The number of people who applied for U.S. unemployment benefits jumped by 24,000 to a three-week high of 329,000, the Labor Department said Thursday. Economists polled by MarketWatch had expected claims to rise to a seasonally adjusted 315,000 in the seven days ended April 19 from a revised 305,000 in the prior week. Claims often rise around Easter because the holiday falls on different dates each year and makes it harder for the government to conduct seasonal adjustments. The average of new claims over the past month rose by 4,750 to 316,750, just one week after falling to a six-and-a-half-year low. The monthly figure smooths out the jumpiness in the weekly data and offers a better look at the underlying trend, which has moved lower since late last year. Also, the government said continuing claims decreased by 61,000 to a seasonally adjusted 2.68 million in the week ended April 10. That's the lowest level since December 2007, when the Great Recession started. Continuing claims reflect the number of people already receiving benefits. Initial claims from two weeks ago, meanwhile, were revised up slightly to 305,000 from 304,000.
Source: Marketwatch
Source: Marketwatch
