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 9,000 to 365,000 for the week ended May 17 - - slightly below the consensus estimate,
Initial U.S. jobless claims decreased 33,000 to 342,000 for the week ended April 19 - - substantially below the consensus estimate, the
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 








