US initial jobless claims increase by 4,000

(Sharecast News) - Americans lined up for unemployment benefits at an accelerated pace in the week ended 5 April, according to the Labor Department. Initial jobless claims rose by 4,000 to 223,000 last week, in line with market expectations, while continuing claims fell by 43,000 from the previous week's downwardly revised level to 1.85m, well below expectations of 1.88m.

The four-week moving average, which aims to smooth out week-to-week volatility, was unchanged from the previous week's unrevised 223,000 print.

Elsewhere, unemployment claims filed under programs for Federal government employees fell by 56 to 508 for the lowest reading since Donald Trump returned to the Oval Office in January.

The advance seasonally adjusted insured unemployment rate was 1.2%, unchanged from the previous week's revised rate.



















Reporting by Iain Gilbert at Sharecast.com