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Weekly jobless claims increase unexpectedly

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Weekly jobless claims increase unexpectedly

Weekly claims of 294,000 misses analysts’ expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended April 11 were 294,000, a decrease of 12,000 from the previous week's revised figure.

Analysts had expected a decrease to 280,000.

The 4-week moving average, which smoothes out volatility to a certain extent, increased 250 to 282,750.

While claims increased, the fact that the 4-week moving average remains below the 300,000 suggest to most economists that the labor market continues to strengthen, albeit at slower rate.

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