Initial Unemployment Claims Decline
Initial Unemployment Claims Decline
The U.S. Labor Department report Thursday that initial claims for jobless benefits fell 13,000 in the week ended April 13th from an upwardly revised figure of 416,000 the week before. The drop was smaller then economists had projected, however, and claims remained above the 400,000 mark. The agency's four-week moving average, which is compiled to smooth out seasonal volatility in weekly data, was just under 400k at 399,000.
Analysts relayed a certain level of concern that initial claims have come in over 400,000 two weeks in a row, but also maintain a certain level of optimism that the long-term trend remained below that number. The US economy reportedly generated some 216,000 new jobs in March as the private sector job market continues to improve. Analysts and investors alike have been buoyed the last couple of days by a string of strong earnings reports from US companies, particularly in the tech sector.
The Labor Department's report also showed that continuing claims for unemployment inched lower, falling 7,000 to 3.65 million in the week ended April 9th, while claims for emergency assistance, made by Americans whose regular unemployment benefits have been used up, fell more than 23,500 to 3.53 million in the week ended April 2nd, the most recent data available.
The U.S. Labor Department report Thursday that initial claims for jobless benefits fell 13,000 in the week ended April 13th from an upwardly revised figure of 416,000 the week before. The drop was smaller then economists had projected, however, and claims remained above the 400,000 mark. The agency's four-week moving average, which is compiled to smooth out seasonal volatility in weekly data, was just under 400k at 399,000.
Analysts relayed a certain level of concern that initial claims have come in over 400,000 two weeks in a row, but also maintain a certain level of optimism that the long-term trend remained below that number. The US economy reportedly generated some 216,000 new jobs in March as the private sector job market continues to improve. Analysts and investors alike have been buoyed the last couple of days by a string of strong earnings reports from US companies, particularly in the tech sector.
The Labor Department's report also showed that continuing claims for unemployment inched lower, falling 7,000 to 3.65 million in the week ended April 9th, while claims for emergency assistance, made by Americans whose regular unemployment benefits have been used up, fell more than 23,500 to 3.53 million in the week ended April 2nd, the most recent data available.
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