United States Initial Jobless Claims

The number of people claiming unemployment benefits in the US was unchanged from the prior week at 212,000 for the period ending April 18th, below market expectations of 215,000. Additionally, continuing claims were loosely unchanged at 1,812,000 at the start of the month, below market expectations of 1,818,000, to show that the unemployed are finding jobs at a healthy pace when compared to historical standards. The results were in line with a batch of recent data pointing to a tight labor market, adding leeway for the Federal Reserve to delay interest rate cuts to tackle stubborn inflation. The four-week-moving average, which reduces week-to-week volatility, was also unchanged at 214,500. In the meantime, non-seasonally adjusted claims fell by 6,576 to 208,509, with notable declines in New Jersey (-4,551), Wisconsin (-1,798), and Pennsylvania (-1,647).