US EditionUS filings for jobless aid jump to 219,00 last week but remain within stable range of past few years
The increase topped economists’ expectations and kept claims near the range that has prevailed since the pandemic recovery.
- On Thursday, the Labor Department reported U.S. applications for unemployment benefits jumped by 16,000 to 219,000 for the week ending April 4, exceeding the 210,000 filings analysts at FactSet expected but remaining within the recent range.
- Amid a still-clouded economic picture, a two-week ceasefire deal between Iran, Israel, and the U.S. injected optimism, though oil prices fluctuated, briefly plummeting to $95 a barrel before rising near $100 following renewed conflict in the Strait of Hormuz.
- Weekly filings have stabilized in a range between 200,000 and 250,000 since the pandemic recession, while the Labor Department noted the four-week moving average of jobless claims rose by 1,500 to 209,500.
- Fed officials have held off lowering rates this year, as inflation remains above the Federal Reserve's 2% target, diminishing the likelihood of interest rate cuts soon despite a weakening job market.
- High-Profile companies continue reducing staff, with Oracle cutting thousands of workers and The Walt Disney Co. preparing to cull 1,000 positions, while Morgan Stanley, Block, UPSand Amazon have also announced recent job cuts.
19 Articles
19 Articles
US Unemployment Claims Climb to Highest Level in 2 Months
The number of Americans filing for unemployment benefits rose to a two-month high. For the week ending April 4, initial jobless claims jumped by 16,000 to 219,000, according to new Department of Labor data released on April 9. This is up from the previous week’s upwardly revised 203,000 and higher than the consensus estimate of 210,000. The four-week average, which strips out week-to-week volatility, ticked up to 209,500. Weekly claims are still…
The four-week moving average of total initial applications stood at 209,500, an increase of 1,500 from the previous figure.
LA Daily News
US filings for jobless aid jump to 219,000 last week but remain within stable range of past few years
U.S. applications for unemployment benefits rose last week before Iran, Israel and the U.S. announced a two-week ceasefire deal.
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