Initial jobless claims rise more than expected

Weekly Jobless Claims Up 10,000 to 272,000
Weekly Jobless Claims Up 10,000 to 272,000

Initial jobless claims totaled 272,000 last week.

Economists had estimated that 270,000 first-time claims for unemployment insurance were filed, according to Bloomberg.

Claims totaled 262,000 in the prior period, which was the lowest weekly tally since November, and a big beat compared to estimates.

This week, the four-week moving average — which evens out some of the volatility — fell 1,250 to 272,000. The trend in claims is still low and has run below 300,000 on a weekly basis for nearly a year as the labor market proves resilient.

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