Initial Jobless Claims Rise to Highest Level Since June

Initial jobless claims climbed by 11,000 last week to 428,000, the highest level in nearly three months, the Labor Department said Thursday.

Economists had forecast a decline to 411,000, Bloomberg reported.

The four-week moving average, a less volatile measure, increased to 419,500, from 415,500.

Continuing jobless claims for the previous week ended Sept. 3 declined by 12,000 to 3.73 million, Labor said.