U.S. Jobless Claims Edge Higher

(MENAFN) The number of Americans submitting initial applications for unemployment benefits increased by 6,000 last week, reaching a total of 214,000, according to data released on Thursday by the US Labor Department. This reading came in above market forecasts, which had anticipated 211,000 claims for the same period, following the prior week’s revised figure of 208,000.

On a broader smoothing basis, the four-week moving average rose slightly to 210,750, up by 750 from the previously adjusted level of 210,000, indicating a relatively stable trend in jobless filings despite weekly fluctuations.

Meanwhile, recent labor market data showed continued strength in hiring. The US economy created 178,000 new jobs in March, significantly surpassing expectations of a 65,000 increase. At the same time, the unemployment rate declined to 4.3% in March, down from 4.4% in February, signaling a modest improvement in overall employment conditions.

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