FOREX TradingCharts.com

Financial News: U.S. Jobless Claims Unexpectedly Drop To New One-Year

U.S. Jobless Claims Unexpectedly Drop To New One-Year Low

04/22/2021 - 09:18:00 (RTTNews)

(RTTNews) - After reporting a sharp pullback in first-time claims for U.S. unemployment benefits in the previous week, the Labor Department released a report on Thursday unexpectedly showing a continued decline in initial jobless claims in the week ended April 17.

The report said initial jobless claims fell to 547,000, a decrease of 39,000 from the previous week's revised level of 586,000.

The continued drop came as a surprise to economists, who had expected jobless claims to rebound to 617,000 from the 576,000 originally reported for the previous month.

With the unexpected decrease, jobless claims slid to their lowest level since hitting 256,000 in the week ended March 14, 2020.

"While we may see some bumps along the way, initial claims appear to be on a clear downward path," said Nancy Vanden Houten, Lead Economist at Oxford Economics.

"However, we expect a full recovery in the labor market to be a gradual process," she added. "While we expect another 6mn jobs to be created over the rest of 2021, employment won't return to pre-Covid levels until mid-2022 and it will take longer to achieve full employment."

The Labor Department said the less volatile-four week moving average also fell to a one-year low of 651,000, a decrease of 27,750 from the previous week's revised average of 678,750.

Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also declined by 34,000 to 3.674 million in the week ended April.

The decrease pulled continuing claims down to their lowest level since hitting 3.094 million in the week ended March 21, 2020.

The four-week moving average of continuing claims also slid to a one-year low of 3,713,000, a decrease of 41,750 from the previous week's revised average of 3,754,750.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Services Index Unexpectedly Pulls Back Off All-Time In April (06 hr(s), 54 min(s), 04 sec(s) ago)
(RTTNews) - After reporting an unexpected slowdown in U.S. manufacturing growth earlier this week, ...Full Story»

U.S. Private Sector Job Growth Accelerates But Misses Estimates In April (08 hr(s), 08 min(s), 04 sec(s) ago)
(RTTNews) - Private sector job growth in the U.S. accelerated in the month of April but still came ...Full Story»

Thai Central Bank Holds Key Rate As Expected (08 hr(s), 28 min(s), 04 sec(s) ago)
(RTTNews) - Thailand's central bank kept its key interest rate unchanged at a record low, as w ...Full Story»

U.S. Private Sector Employment Jumps Less Than Expected In April (08 hr(s), 56 min(s), 04 sec(s) ago)
(RTTNews) - Private sector job growth in the U.S. accelerated in the month of April but still came ...Full Story»

South Africa Private Sector Growth Strongest Since March 2012 (09 hr(s), 20 min(s), 04 sec(s) ago)
(RTTNews) - South Africa's private sector expanded at the fastest pace in nearly a decade in A ...Full Story»

Latvia Industrial Production Increases In March (10 hr(s), 02 min(s), 04 sec(s) ago)
(RTTNews) - Latvia's industrial production rose in March, data from the Central Statistical Bu ...Full Story»

Spain Unemployment Falls For Second Straight Month (10 hr(s), 11 min(s), 04 sec(s) ago)
(RTTNews) - Spain's unemployment decreased for the second straight month in April with the eas ...Full Story»

India Central Bank Unveils Measures To Counter COVID-19 Impact (10 hr(s), 19 min(s), 04 sec(s) ago)
(RTTNews) - India's central bank unveiled a slew of measures on Wednesday as the second wave o ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Services Index Unexpectedly Pulls Back Off All-Time In April

05/05/2021 - 10:23 AM (RTTNews)
(RTTNews) - After reporting an unexpected slowdown in U.S. manufacturing growth earlier this week, ...Full Story>>

U.S. Private Sector Job Growth Accelerates But Misses Estimates In April

05/05/2021 - 09:09 AM (RTTNews)
(RTTNews) - Private sector job growth in the U.S. accelerated in the month of April but still came ...Full Story>>

Thai Central Bank Holds Key Rate As Expected

05/05/2021 - 08:49 AM (RTTNews)
(RTTNews) - Thailand's central bank kept its key interest rate unchanged at a record low, as w ...Full Story>>

U.S. Private Sector Employment Jumps Less Than Expected In April

05/05/2021 - 08:21 AM (RTTNews)
(RTTNews) - Private sector job growth in the U.S. accelerated in the month of April but still came ...Full Story>>

South Africa Private Sector Growth Strongest Since March 2012

05/05/2021 - 07:57 AM (RTTNews)
(RTTNews) - South Africa's private sector expanded at the fastest pace in nearly a decade in A ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.