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Weekly jobless claims fall

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Weekly jobless claims fall

Results beat expectations, reverse prior week’s increase.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended April 2 were 267,000, a decrease of 9,000 from the previous week's figure. 

Analysts had expected claims to come in at 270,000.

The 4-week moving average, which smoothes out volatility to a certain extent, increased 3,500 to 266,750.

Claims overall have stayed below the 300,000 level for 57 consecutive weeks, which indicates a strong labor market in the US, despite what appears to be a significant slowdown in economic growth in the US and globally.

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