US initial jobless claims drop to 207,000

(Sharecast News) - US initial jobless claims fell sharply last week, according to the Department of Labor, dropping to 207,000 in the week ended 11 April from a downwardly revised 218,000 the week before. That figure was well below expectations for 215,000 and marked the largest weekly decline since February, suggesting layoffs remain limited as the labour market continues to show resilience.

The four‑week moving average, which aims to smooth out week-to-week volatility, edged up slightly to 209,750 from a revised 209,250, while continuing claims rose to 1.81m in the week ended 4 April, an increase of 31,000 from the previous week's revised level.





Reporting by Iain Gilbert at Sharecast.com