- U.S. weekly jobless claims total 744,000
Market news
U.S. weekly jobless claims total 744,000
The
data from the Labor Department revealed on Thursday the number of applications
for unemployment unexpectedly increased last week.
According
to the report, the initial claims for unemployment benefits increased by 16,000
to 744,000 for the week ended April 3. This marked the third consecutive weekly
increase in initial unemployment claims.
Economists
had expected 680,000 new claims last week.
Claims
for the prior week were revised upwardly to 728,000 from the initial estimate
of 719,000.
Meanwhile,
the four-week moving average of jobless claims rose to 723,750 from an upwardly
revised 721,250 in the previous week.
Continuing
claims dropped to 3,734,000 from a downwardly revised 3,750,000 in the previous
week.
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