Initial weekly US unemployment claims rise

Initial unemployment claims moved modestly higher in the week ending on 26 March.

The number of first time claimants for unemployment benefits increased by 11,000 to 276,000 over the week ending on 26 March, according to the Department of Labor.

Economists had been expecting an unchanged reaading of 265,000.

The four-week moving average of initial claims, which is meant to smoothe out the week-to-week volatility jumped by 3,500 people to 263,250.

Secondary uneployment claims, those which are no filed for the first time and referencing the previous week, edged higher by just 7,000 to reach 2.173m.

The Department of Labor referenced no special factors which might have affected the data.