The Latest Unemployment Claims
On Thursday, the Department of Labor released their weekly report on the status of unemployment claims. For the third straight week, claims have been at their highest level in the last four months. With claims the week before numbering 389,000, last week’s report detailed only a minor improvement of 1,000 less claims, making the total 388,000.
This is the third straight week that the numbers have topped 385,000 claims, after remaining low since January. Economists had predicted376,000 claims would be filed last week. After the recent number of claims exceeding expectations, the four-week moving average, meant to smooth out weekly volatility, rose by 6,250 claims to 381,750.
Analysts predict, even with the high number of claims, that the economy will add 175,000 jobs to U.S. payrolls in April. Still, some economists fear that the re-emergence of a weak labor market could slow growth after a strong start to the year.