U.S. initial jobless claims fall in mid-April

U.S. initial jobless claims continue to be in line with low rates of job separation and healthy labor market conditions. In the week ended 14 April, jobless claims fell 1000 to 232k, consistent with consensus expectations of 230k. Claims data for the earlier week were unrevised. After this week’s reading, the four-week moving average of initial jobless claims rose 1k to 232k. This week’s report marks the survey week for the April employment report.

Compared to the March survey week, initial claims rose 5k versus the 227k reading a month ago and the four-week average is 6k higher. In spite of the modest rise in the April survey week relative to March, the initial claims data continues to be in line with low rates of job separation and healthy labor market conditions.

In the week ended 7 April, continuing claims dropped by 15k to 1.863 million from 1.878 million a week earlier, leaving the four-week moving average at 1.859. This is a 7,000 improvement over the four-week average in continuing claims in the week ended 31 March. The insured jobless rate remained at 1.3 percent for the seventh straight week.

At 14:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was highly bullish at 77.442. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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