Initial Jobless Claims Rise for Week

Initial jobless claims rose 12,000 last week, the Labor Department said Thursday.

The increase to 472,000 claims for the week ended Saturday was greater than economists’ forecasts of a decline to 450,000, Bloomberg reported.

The four-week moving average, a less volatile measure, fell to 463,500, from 464,000 the previous week.

Continuing claims for the previous week ended June 5 rose 88,000 to 4.57 million, Labor said.