US initial jobless claims fall to 202,000, near two‑year low

(Sharecast News) - Americans lined up for unemployment benefits at a decelerated pace in the week ended 29 March, according to the Labor Department, coming close to January's two‑year low. Initial jobless claims fell by 9,000 to 202,000, well below consensus estimates of 212,000, underscoring the continued low level of layoffs that has helped limit expectations for further Federal Reserve rate cuts this year.

Continuing claims, on the other had, rose by 25,000 to 1.84m in the prior week, while the four-week moving average, which aims to strip out week-to-week volatility, decreased by 2,000 to 207,750.

Elsewhere, the advance seasonally adjusted insured unemployment rate was 1.2% for the week ended 21 March, unchanged from the previous week's unrevised rate.



Reporting by Iain Gilbert at Sharecast.com