US initial jobless claims hit 57-year low

(Sharecast News) - Americans lined up for unemployment benefits at a decelerated pace in the week ended 25 April, according to the Labor Department, dropping to the lowest reading since 1969. Initial jobless claims fell by 26,000 to 189,000, defying expectations for a print of 215,000.

Continuing claims fell by 23,000 to 1.78m, their lowest reading in twelve months, while the four-week moving average, which aims to strip out week-to-week volatility, decreased by 3,500 to 211,000.

Meanwhile, the advance seasonally adjusted insured unemployment rate was 1.2% for the week ended 18 April, unchanged from the previous week's unrevised rate.





Reporting by Iain Gilbert at Sharecast.com