Initial U.S. jobless claims increased 16,000 to 404,000 for the week ended June 28, the U.S. Labor Department announced Thursday.

Claims for the previous week were revised 2,000 higher to 388,000.

Economists surveyed by Bloomberg News had expected this week's initial jobless claims to total 385,000.

Also, the 4-week moving average increased 11,250 to 390,500. Economists view the four-week average as a better indicator of unemployment conditions, as it smooths out anomalies for strikes, holidays, or other idiosyncratic events.

Economist Peter Dawson said Thursday the jobless claims picture indicates economic conditions are worsening in the United States. "We're now above 400,000 in new claims. This is a sign the economy is stalling. Earlier, we did not see jobless claims as high as in previous slowdowns, but the job slide is accelerating, so in my view GDP will definitely be negative in Q2," Dawson said. "We've got to find a way to jump-start both jobs and demand or this economy will suffer a deeper recession."

Initial U.S. jobless claims decreased 5,000 to 381,000 for the week ended June 14, the U.S. Labor Department announced Thursday. However, the total was still above the consensus estimate. Claims for the previous week were revised 26,000 higher to 386,000.

Economists surveyed by Bloomberg News had expected this week's initial jobless claims to total 375,000.

Also, the 4-week moving average increased 3,250 to 375,250. Economists view the 4-week average as a better indicator of unemployment conditions, as it smooths-out anomalies for strikes, holidays, or other idiosyncratic events.

Economist Peter Dawson said the jobless claims picture reflects the tepid U.S. economy. "We're not seeing jobless claims as high as in previous economic slowdowns, but jobless claims are still trending higher, as evidenced by the 4-week average," Dawson said. "We have the slowest of economies that's not creating new jobs but not resulting in mass lay offs, either, so far."

Initial U.S. jobless claims increased 25,000 to 384,000 for the week ended June 7 -- considerably worse the consensus estimate, the U.S. Labor Department announced Thursday. Claims for the previous week were revised 16,000 lower to 359,000.

Economists surveyed by Bloomberg News had expected this week's initial jobless claims to total 365,000.

Also, the four-week moving average increased 2,500 to 371,500. Economists view the 4-week average as a better indicator of unemployment conditions, as it smooths-out anomalies for strikes, holidays, or other idiosyncratic events.

Economist Peter Dawson called the weekly rise in unemployment claims troubling. "Falling claims must occur before the economy can rev back up," Dawson said. "The data indicates the economy is not moving in the right direction. Job conditions are not improving."

Initial U.S. jobless claims decreased 15,000 to 357,000 for the week ended May 24 - - below the consensus estimate, the U.S. Labor Department announced Thursday. Claims for the previous week were revised 7,000 high to 375,000.

Economists surveyed by Bloomberg News had expected this week's initial jobless claims to total 374,000.

Note: The Labor Department cautioned that jobless claims reported for the previous week may have been unusually low, due the Memorial Day holiday, which may have prevented some individuals and companies from filing claims.

Also, the 4-week moving average decreased 2,500 to 368,500. Economists view the 4-week average as a better indicator of unemployment conditions, as it smooths-out anomalies for strikes, holidays, or other idiosyncratic events.

Initial U.S. jobless claims decreased 9,000 to 365,000 for the week ended May 17 - - slightly below the consensus estimate, the U.S. Labor Department announced Thursday. Claims for the previous week were revised 4,000 higher to 374,000.

Economists surveyed by Bloomberg News had expected this week's initial jobless claims to total 370,000.

Also, the 4-week moving average increased 5,000 to 372,250. Economists view the 4-week average as a better indicator of unemployment conditions, as it smooths-out anomalies for strikes, holidays, or other idiosyncratic events.

Economist Peter Dawson said this week's job report, "shows that although we're not seeing large weekly layoffs, the length of time individuals are spending looking for employment is increasing, which is indicative of soft job creation conditions."

Initial U.S. jobless claims increased 6,000 to 371,000 for the week ended May 10 -- slightly above the consensus estimate, the U.S. Labor Department announced Thursday. Claims for the previous week remained at 367,000.

Economists surveyed by Bloomberg News had expected this week's initial jobless claims to total 370,000.

Also, the 4-week moving average decreased 1,000 to 367,000. Economists view the 4-week average as a better indicator of unemployment conditions, as it smooths-out anomalies for strikes, holidays, or other idiosyncratic events.

Economist Peter Dawson said this week's job report "shows that labor conditions continued to soften. We're seeing little to no evidence that small or large companies have picked-up their hiring pace."

Initial jobless claims decreased 18,000 to 365,000 for the week ended May 3, below the consensus estimate, the U.S. Labor Department announced Thursday. Claims for the previous week were revised up 3,000 to 383,000.

Economists surveyed by Bloomberg News had expected this week's initial jobless claims to total 370,000.

Also, the 4-week moving average increased 2,500 to 367,000. Economists view the 4-week average as a better indicator of unemployment conditions, as it smooths-out anomalies for strikes, holidays, or other idiosyncratic events.

Economist Peter Dawson said this week's job report "shows that soft labor conditions are an enduring feature of the sluggish U.S. economy. Hiring in both small and large companies has to turn up before we can say this economy is gaining some traction."

The largest increases in initial claims for the week ending April 26 were in: Massachusetts, +5,591, New York, +4,648, Kentucky, +3,776, New Jersey, +3,521, and Michigan, +3,238. The largest decreases were in: Texas, -3,373, Rhode Island, -1,835, California, -1,689, Pennsylvania, -1,597, and, Connecticut, -1,423.

Meanwhile, the number of continuing claims decreased by 10,000 to 3.020 million from a revised 3.030 million for the week ended April 26, the latest period for which figures were available.

Economic Analysis: Another poor weekly jobless report. Weekly claims were above the consensus estimate, and the 4-week moving average remains at an elevated level. Further, the continuing claims total remains over 3 million -- an indication of a soft job market. That statistic, combined with a elevated 4-week average, indicates that labor market conditions are not improving -- a decided negative for the U.S. economy.

Initial U.S. jobless claims decreased 33,000 to 342,000 for the week ended April 19 - - substantially below the consensus estimate, the U.S. Labor Department announced Thursday. Claims for the previous week were revised up 20,000 to 375,000.

Economists surveyed by Bloomberg News had expected this week's initial jobless claims to total 375,000.

Also, the four-week moving average decreased 7,250 to 369,500. Economists view the 4-week average as a better indicator of unemployment conditions, as it smooths-out anomalies for strikes, holidays, or other idiosyncratic events.

The largest increases in initial claims for the week ending April 12 were in California, +8,791, Florida, +4,281, Michigan, +2,943, North Carolina, +2,415, and Puerto Rico +1,452. The largest decreases were in Kentucky, -2,502, Oregon, -1,646, South Carolina, -1,543, New York, -1,436, and Illinois, -1,397.

Meanwhile, the number of continuing claims decreased by 65,000 to 2.934 million from a revised 2.999 million for the week ended April 12, the latest period for which figures were available.

Economic Analysis: A decent weekly jobless report, relatively speaking. Weekly claims were well below the consensus estimate, and the 4-week moving average declined slightly. However, the 4-week average is still considerably above the U.S. Federal Reserve's danger level of 350,000. The U.S. Federal Reserve considers a 4-week average above 350,000 a signal of soft labor market conditions.

Initial jobless claims increased 17,000 to 372,000 for the week ended April 12 -- slightly below the consensus estimate, the U.S. Labor Department announced Thursday. Claims for the previous week were revised down 2,000 to 355,000.

Economists surveyed by Bloomberg News had expected this week's initial jobless claims to total 375,000.

Also, the 4-week moving average decreased 750 to 376,000. Economists view the 4-week average as a better indicator of unemployment conditions, as it smooths-out anomalies for strikes, holidays, or other idiosyncratic events.

The largest increases in initial claims for the week ending April 5 were in Georgia, +4,306, Michigan +3,483, Texas +2,377, Illinois +2,090, and Washington +1,985. The largest decreases were in New Jersey, -2,737, New York, -2,465, Wisconsin, -2,075, Kansas, -1,787, and Puerto Rico
-1,055.

Meanwhile, the number of continuing claims increased by 26,000 to 2.984 million from a revised 2.958 million for the week ended April 5, the latest period for which figures were available.

U.S. Initial jobless claims fell 53,000 to 357,000 to for the week ended April 5, substantially below the consensus estimate, the U.S. Labor Department announced Thursday. Claims for the previous week were revised up 3,000 to 410,000.

Economists surveyed by Bloomberg News had expected this week's initial jobless claims to total 386,000.

Also, the 4-week moving average increased 2,500 to 378,250. Economists view the 4-week average as a better indicator of unemployment conditions, as it smooths out anomalies for strikes, holidays, or other idiosyncratic events.

The largest increases in initial claims for the week ending March 29 were Indiana (+7,443), New York (+4,123), Puerto Rico (+3,900), New Jersey (+3,294), and Kentucky (+2,840). The largest decreases were in Pennsylvania (-2,513), California (-1,595), Iowa (-895), Virginia (-800), and Illinois (-509).

The number of continuing claims increased by 3,000 to 2.940 million from a revised 2.837 million for the week ended March 29, the latest period for which figures were available.

Economic Analysis: This is a "teachable moment" weekly jobless report. Weekly jobless claims fell substantially to 357,000, giving the appearance of an improvement in claims. However, the key is the 4-week moving average, which rose by 2,500 to about 378,000 -- a number well above the U.S. Federal Reserve's danger level of 350,000. The U.S. Federal Reserve considers a 4-week average above 350,000 a signal of soft labor market conditions. Further, the continuing claims total, which measures the seasonally adjusted unemployed, also continued to track higher, at 2.940 million, also indicative of a tepid job market. In sum, the drop in weekly jobless claims underscores the inherent volatility of the weekly stat; the total can bounce around from week-to-week, due to several factors, which is why economists follow the 4-week moving average more closely. Jobless conditions remain a concern for the U.S. economy.

Bloomberg News reports that employers slashed 80,000 jobs in March. This accelerates the rate of monthly job cuts -- 76,000 lost their jobs in March -- and boosts the unemployment rate -- at 5.1% it's the highest since September 2005 when it was 4.8%.

The jobs hits are coming from the automobile, construction, and financial industries. 24,000 jobs were lost in the auto manufacturing and parts industries; builders eliminated 51,000 jobs after a decline of 37,000 in February; and Wall Street banks hit by mortgage losses and write-downs have cut more than 34,000 jobs in the past nine months.

Nobody really knows how bad the layoffs will get. But Fortune reports that there's no magic wand that can help you if you've been laid off. It advises people to "step back, take a deep breath, and take a careful look at your career -- to re-evaluate your goals in life. What do you really want to do next? Maybe it's time to move on to something completely different. This is your chance to find out."

In the next few years, many more people will be taking that chance.

Peter Cohan is President of Peter S. Cohan & Associates. He also teaches management at Babson College and edits The Cohan Letter.

Reuters reports that jobless claims jumped to their highest level since 2005. Specifically, U.S. workers applying for unemployment benefit rose by 38,000 last week, posting the highest reading since September 2005. I guess Fed Chairman Ben Bernanke had the statistics on his side when he testified that "It now appears likely that real gross domestic product [GDP] will not grow much, if at all, over the first half of 2008 and could even contract slightly."

The key is how the statistics performed relative to expectations. The 407,000 jobless claims reported in the week ended March 29 was way above economists' estimates of 370,000. If consumers lose their jobs, they'll have even more trouble borrowing to pay their rising costs of living. Although government statistics hide it -- anyone who drives or buys food knows that prices are rising.

Bloomberg News reports that job losses are coming from homebuilders and housing-related businesses, including lenders and financial service companies with exposure to mortgage-backed securities, are also stepping up firings. It also quotes an analyst who said, "400,000 is usually a trigger point when we consider recessionary times." I credit Bernanke for knowing a bit more about what's going on -- unlike the President who was shocked to learn about $4 a gallon gas. .

Peter Cohan is President of Peter S. Cohan & Associates. He also teaches management at Babson College and edits The Cohan Letter.

Initial jobless claims were unchanged at 353,000 for the week ended March 8 -- below the consensus estimate, the U.S. Labor Department announced Thursday. Claims for the previous week were revised down 22,000 to 353,000.

Economists surveyed by Bloomberg News had expected this week's initial jobless claims to total 358,000.

Also, the four-week moving average decreased 1,250 to 358,500. Economists view the four-week average as a better indicator of unemployment conditions, as it smooths-out anomalies for strikes, holidays, or other idiosyncratic events.

The largest increases in initial claims for the week ending February 23 were New York, +13,707; South Carolina, +2,679; California, +1,287; Arkansas, +1,120; and North Carolina, +790. The largest decreases were in Massachusetts, -3,656; Louisiana, -1831; Michigan, -1,768; Wisconsin, -1,084; and Rhode Island, -898.

The number of continuing claims increased by 7,000 to 2.835 million from a revised 2.828 million for the week ended March 1, the latest period for which figures were available.

Economic Analysis: Another poor weekly statistic, one that continues to show deteriorating employment conditions. The four-week moving average remains above the U.S. Federal Reserve's danger level of 350,000. The U.S. Federal Reserve considers a four-week average above 350,000 a signal of soft labor market conditions. In addition, the high and rising number of continuing claims, which measures the seasonally adjusted uninsured, at 2.835 million, also indicates a tepid job market. Jobless conditions continue to worsen -- a fact that will have to change in order for U.S. GDP and earnings to grow in the quarters ahead.

Initial jobless claims rose to 373,000 to for the week ended February 22 -- well above the 350,000 consensus estimate, the U.S. Labor Department announced Thursday. Claims for the previous week were revised down 4,000 to 354,000.

Also, the four-week moving average decreased by 1,250 to 360,500. Economists view the four-week average as a better indicator of unemployment conditions, as it smooths-out anomalies for strikes, holidays, or other idiosyncratic events.

"The rise in the weekly average continues to be troubling," economist Steve Affinito said. "We saw a minor decline in the four-week moving average, but that is still above the Federal Reserve's danger level of 350,000. It's something the Fed can not ignore as it tries to right the U.S. economy."

The largest increases in initial claims for the week ending February 22 were in North Carolina, +1,201, Wisconsin, +259, Louisiana, +172, and Rhode Island, +78. The largest decreases were in California, -16,027, Kentucky, -4,709, Illinois, -3,912, Oregon, -3,078, and Florida, -2,827.

Initial jobless claims fell to 356,000 to for the week ended February 2 from the previous week, but came in above the 344,000 consensus estimate, the U.S. Labor Department announced Thursday. Claims for the previous week were revised up 3,000 to 378,000.

Also, the four-week moving average jumped 11,000 to 335,000. Economists view the four-week average as a better indicator of unemployment conditions, as it smooths-out anomalies for strikes, holidays, or other idiosyncratic events.

The largest increases in initial claims for the week ending Jan. 26 were in Wisconsin, +2,325; North Carolina, +715; Maryland, +504; Virginia, +340, and California, +233. The largest decreases were in Michigan, -7,546; Illinois, -4,483; Florida, -4,127; Ohio, -3,038; and Texas, -2887.

Meanwhile, the number of continuing claims increased by 75,000 to 2.785 million from a revised 2.710 million for the week ended January 26, the latest period for which figures were available.

Economic Analysis: Another poor weekly jobless claims statistic, one that continues to show a deterioration in employment conditions. Further, the four-week moving average continues to rise and is approaching the U.S. Federal Reserve's danger zone of 350,000. The U.S. Federal Reserve considers a four-week average above 350,000 a signal of soft labor market conditions. In addition, the rise in continuing claims, which measures the seasonally-adjusted uninsured, to 2.785 million, also indicates a tepid job market. If jobless conditions continue to worsen, additional monetary and fiscal measures undoubtedly will be needed to stimulate the U.S. economy.