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- U.S. weekly jobless claims total 547,000
U.S. weekly jobless claims total 547,000
The
data from the Labor Department revealed on Thursday the number of applications
for unemployment unexpectedly decreased last week, hitting its lowest level in
more than a year.
According to the report, the initial claims for unemployment benefits dropped by 39,000 to 547,000 for the week ended April 17. This was the lowest reading since March 2020.
Economists
had expected 617,000 new claims last week.
Claims
for the prior week were revised upwardly to 786,000 from the initial estimate
of 576,000.
Meanwhile,
the four-week moving average of jobless claims fell to 651,000 from a downwardly
revised 678,750 in the previous week.
Continuing
claims declined to 3,674,000 from a downwardly revised 3,708,000 in the
previous week.
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