Jobless Claims Increase More Than Expected -- Again

ByJohn S. McClenahen Although they are nowhere near the 400,000 mark that would cause serious concern about the underlying condition of the U.S. labor market, initial claims for unemployment insurance last week rose by more than expected for the second time in a month. Initial claims were a seasonally adjusted 352,000 for the week ending June 5, some 12,000 higher than the previous week's revised figure of 340,000, the U.S. Labor Department reported on June 10. The department's four-week moving average for initial claims, which smoothes out week-to-week changes, also rose last week -- to 346,000 from a revised 341,250 the week before.