WASHINGTON — Initial jobless claims unexpectedly rose to 472,000 the week ending June 12, the Labor Department said yesterday. The second straight weekly increase pushed new filings for unemployment benefits to their highest level in a month.
Continuing claims increased to 4.571 million for the week ending June 5. Economists expected 450,000 initial claims and 4.455 million continuing claims, according to the median estimate from Thomson Reuters.
The level of initial jobless claims was “disappointing,” according to economist Adolfo Laurenti of Mesirow Financial.
“The current level remains well above what is considered the trigger point for a more broad-based expansion in payrolls,” he wrote in a research note, adding that the Fed is likely to view the day’s data for initial jobless claims and consumer pricing as indicative of an economy “that is healing, but at a glacial pace.”