US initial jobless claims rise by 5,000

(Sharecast News) - Americans lined up for unemployment benefits at an accelerated pace in the week ended 21 March, according to the Labor Department, contrasting with weak signals seen in February's jobs report. Initial jobless claims rose by 5,000 week-on-week to 210,000, in line with market expectations, while continuing claims fell by 32,000 to 1.819m, well below expectations for a reading of 1.85m.

The four-week moving average, which aims to strip out week-to-week volatility, came in at 210,500, down by 250 from the previous week's unrevised average of 210,750.

Meanwhile, the advance seasonally adjusted insured unemployment rate was 1.2% for the week ended 14 March, unchanged from the prior week's unrevised rate.





Reporting by Iain Gilbert at Sharecast.com