U.S. jobless claims rise modestly by remain at low levels

U.S. jobless claims continue to be at low levels. In the week ended 28 April, the initial jobless claims rose slightly to 211k from 209k. This is below consensus expectations of 225k. This brings the four-week moving average to 222k, lower than the prior week’s 229k.

This measure of claims is at its lowest level since March 1973 and implies very low rates of job separations in the labor market. Delving into details, continuing claims for the week ended 21 April dropped to 1.76 million from 1.83 million, and the insured jobless rate dropped one tenth, to 1.2 percent. Overall, claims data is indicating towards strong labor markets, noted Barclays in a research report.

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