WASHINGTON - Seasonally adjusted initial jobless claims rose 25,000 to 429,000 for the week ending April 23, their highest level since Jan. 22 the Labor Department reported Thursday.
Economists had expected a decline to 390,000 claims, according to the median of estimates polled by Thomson Reuters. The economists were looking for a decline based on the recovery of the auto and other industries suffering from Japanese supply chain problems.
Continuing claims fell to 3.641 million for the week ending April 16. That was their lowest level since the week ending Sept. 27, 2008, when there were 3.636 million continuing claims.
The four-week moving average of initial claims, a less volatile figure rose 408,500, up from the previous week's revised 399,250.
For continuing claims, the four -week moving average was 3.698 million, down from the previous week's revised 3.721 million.
Despite this week's overall increase, there were 18 states reporting declines of more than 1,000 first-time claims in the week ending April 16, presenting a somewhat better picture of the labor market. The only states to report increases higher than 1,000 for that week were Pennsylvania and Virginia.
