Initial weekly US jobless claims edged past forecasts
(ShareCast News) - US jobless claims rose last week, edging past economists forecasts, even as a key measure of labour market slack fell to its lowest level since the turn of the century.
Initial unemployment claims for the week ending on 15 April jumped by 10,000 to reach 244,000, according to the Department of Labor.
That compared to economists' forecasts for a reading of 240,000.
The four-week moving average, which attempts to smoothe out the volatility in the weekly data, decreased by 4,250 to 243,000.
Secondary unemployment claims, those which are not filed for the first time and referencing the week before, fell by 49,000 to 1.979m - their lowest level since 15 April 2000.