- U.S. weekly jobless claims total 553,000
Market news
U.S. weekly jobless claims total 553,000
The data from the Labor Department revealed on Thursday the number of applications for unemployment totaled more than expected last week, but was the lowest since the COVID-19 pandemic struck.
According
to the report, the initial claims for unemployment benefits dropped by 13,000
to 553,000 for the week ended April 24. This was lowest reading since March
2020.
Economists
had expected 549,000 new claims last week.
Claims
for the prior week were revised upwardly to 566,000 from the initial estimate
of 547,000.
Meanwhile,
the four-week moving average of jobless claims fell to 611,750 from an upwardly
revised 655,750 in the previous week.
Continuing
claims rose to 3,660,000 from a downwardly revised 3,651,000 in the previous
week.
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