WASHINGTON - Seasonally adjusted initial jobless claims rose 43,000 to 474,000 for the week ended April 30, their highest level since the week ending August 14, 2010, the Labor Department reported Thursday. That's up from a revised 431,000 in the previous week.
Economists had expected a decline to 410,000 claims, according to the median of estimates polled by Thomson Reuters.
The increase was based on a confluence of special factors affecting the seasonal adjustment. The tornadoes and flooding in the middle of the U.S. did not affect the number because people who lose their jobs in such situations get special disaster unemployment assistance.
Continuing claims rose to 3.733 million for the week ended April 23, up from 3.659 million the week before.
The four-week moving average of initial claims for the week ended April 30, a less volatile figure, was 431,250, up from a revised 409,000.
For continuing claims, the four-week moving average was 3.700 million for the week ended April 23, down from the preceding week's 3.702 million.
