US initial claims come in slightly higher than expected
By Iain Gilbert
Date: Thursday 30 Mar 2023
(Sharecast News) - Americans lined up for unemployment benefits at an accelerated pace in the seven days ended 25 March, according to the Labor Department.
Initial jobless claims rose by 7,000 week-on-week to 198,000, slightly above expectations for a reading of 196,00 but remaining at a historically low level and still pointing to a stubbornly tight labour market.
The four-week moving average, which aims to strip out week-to-week volatility, rose by 2,000 to 198,250, while the advance number for seasonally adjusted insured unemployment during the week ended 18 March came to 1.68m - an increase of 4,000 from the previous week's revised print.
On a seasonally unadjusted basis, initial claims rose by 10,906 to 223,913.
Reporting by Iain Gilbert at Sharecast.com
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