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US Jobless Claims Surpass Market Expectations
(MENAFN) The number of Americans filing first-time unemployment claims jumped sharply last week, rising 16,000 to 219,000 — surpassing market forecasts and signaling potential softening in the labor market, US Labor Department data released Thursday showed.
Analysts had anticipated a reading of 210,000, making the latest figure a notable miss, following the prior week's upwardly revised tally of 203,000.
The four-week moving average — a smoother gauge of underlying labor market trends — climbed to 209,500, an increase of 1,500 from the previous week's upwardly revised 208,000.
Despite the uptick in claims, broader labor market data continues to paint a resilient picture. The US economy added 178,000 jobs in March, far outpacing expectations of a 65,000 gain, while the unemployment rate ticked down to 4.3% in March from 4.4% in February.
The mixed signals — a stronger-than-expected payrolls print alongside rising weekly claims — suggest the labor market may be at an inflection point, with early cracks emerging even as headline employment figures remain solid.
Analysts had anticipated a reading of 210,000, making the latest figure a notable miss, following the prior week's upwardly revised tally of 203,000.
The four-week moving average — a smoother gauge of underlying labor market trends — climbed to 209,500, an increase of 1,500 from the previous week's upwardly revised 208,000.
Despite the uptick in claims, broader labor market data continues to paint a resilient picture. The US economy added 178,000 jobs in March, far outpacing expectations of a 65,000 gain, while the unemployment rate ticked down to 4.3% in March from 4.4% in February.
The mixed signals — a stronger-than-expected payrolls print alongside rising weekly claims — suggest the labor market may be at an inflection point, with early cracks emerging even as headline employment figures remain solid.
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