Continuing claims run a week behind and increased to 1.78 million, up 17,000 from the previous week. There was also an increase in the four-week moving average of claims, which helps smooth out weekly volatility in numbers.
New Jersey, California, and Rhode Island had the highest insured unemployment rates for the week ended April 20, while Iowa, Illinois and New Hampshire had the largest increases in initial claims for the week ending April 27.
Central bank officials closely monitor jobs data, as part of their dual mandate to foster economic conditions that achieve stable prices and maximum sustainable employment. The weaker-than-expected weekly jobless claims data present new evidence of a softening U.S. labor market, reviving hopes that the Federal Reserve will cut interest rates this year.
Copyright © 2024 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com’s content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
View the original article on AllPennyStocks.com
]]>