US initial jobless claims rise by 16,000

(Sharecast News) - Americans lined up for unemployment benefits at an accelerated clip in the week ended 4 April, accprding to the Labor Department, potentially giving the Federal Reserve scope to leave interest rates unchanged as it gauges the economic fallout from the conflict with Iran. Initial claims rose 16,000 to a seasonally adjusted 219,000, ahead of forecasts of 210,000, while the four-week moving average came to 209,500, an increase of 1,500 from the previous week.

Continuing claims, on the other hand, dropped by 38,000 to 1.79m - the lowest level in almost two years.

The advance seasonally adjusted insured unemployment rate was 1.2% for the week ended 28 March, unchanged from the previous week's unrevised rate.





Reporting by Iain Gilbert at Sharecast.com