US Jobless Claims Rise Above Forecasts
The number of initial claims for US unemployment benefits rose to 219,000 for the week ending April 4, above estimates and up from 203,000 in the previous week (revised from 202,000), according to the US Department of Labor (DOL) on Thursday. The four-week moving average also rose 1.5,000 to 209.5,000.
Continuing claims, on the other hand, fell 38,000 to 1.794 million for the week ending March 28, confirming a mixed signal: initial claims indicate mild weakness at the margin, but the decline in continuing claims indicates the labor market has not yet shown a sharp loosening. For the market, this combination typically influences expectations for the Fed's interest rate by assessing the risks of weaker growth versus the resilience of labor demand. (gn)
Source: Newsmaker.id