United States Initial Jobless Claims

Initial jobless claims in the United States rose by 6,000 from the previous week to 222,000 on the third week of April, in line with market expectations to remain relatively close to the two-month low from the prior period. In the meantime, outstanding jobless claims fell by 37,000 to 1,841,000 on the second week of April, a two-month low, and well below market expectations that they would rise to 1,880,000. The result continued to reflect a historically tight labor market in the US to extend the momentum from the latest jobs report. Initial unemployment claims filed under programs for Federal government employees, which have been under close scrutiny due to firings by the Department of Government Efficiency (DOGE), inched higher by 87 people to 629. Despite the relatively low number, reports that many firings by DOGE were done with severance packages prevent employees from claiming benefits immediately after being terminated.