- U.S. weekly jobless claims total 576,000
Market news
U.S. weekly jobless claims total 576,000
The
data from the Labor Department revealed on Thursday the number of applications
for unemployment decrease much more than expected last week, hitting its lowest
level in more than a year.
According
to the report, the initial claims for unemployment benefits dropped by 193,000
to 576,000 for the week ended April 10. This was the lowest reading since March
2020.
Economists
had expected 700,000 new claims last week.
Claims
for the prior week were revised upwardly to 769,000 from the initial estimate
of 744,000.
Meanwhile,
the four-week moving average of jobless claims fell to 683,000 from an upwardly
revised 730,250 in the previous week.
Continuing
claims rose to 3,731,000 from a downwardly revised 3,727,000 in the previous
week.
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