After reporting a slight drop in first-time claims for U.S. unemployment benefits in the previous week, the Labor Department released a report on Thursday showing that initial jobless claims rebounded in the week ended April 15th.
The report said initial jobless claims climbed to 244,000, an increase of 10,000 from the previous week's unrevised level of 234,000. Economists had expected jobless claims to rise to 242,000.
Meanwhile, the Labor Department said the less volatile four-week moving average fell to 243,000, a decrease of 4,250 from the previous week's unrevised average of 247,250.
Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also dropped by 49,000 to 1.979 million in the week ended April 8th.
With the decrease, continuing claims fell to their lowest level since hitting 1.962 million in the week ended April 15, 2000.
The four-week moving average of continuing claims also edged down to a nearly seventeen-year low of 2,023,500, a decrease of 2,000 from the previous week's unrevised average of 2,025,500.
by RTT Staff Writer
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