Initial claims for the week ending April 3 increased 16,000 to 744,000 (Briefing.com consensus 678,000).
Continuing claims for the week ending March 27 decreased 16,000 to 3.734 million.
The four-week moving average for initial claims increased by 2,500 to 723,750. In the same week a year ago, the average stood at 3,828,250.
The four-week moving average for continuing claims decreased by 105,750 to 3,862,000. In the same week a year ago, the average stood at 3,611,750.
The total number of continued weeks claimed for benefits in all programs for the week ending March 20 was 18,164,588, a decrease of 50,862 from the prior week and versus 3,443,666 in the same week a year ago.The key takeaway from the report is that it is disappointing labor market data that will convince the Fed that it needs to be patient before removing policy accommodation.
|Apr 3||Mar 27||Mar 20||Mar 13||Mar 6|
|4-Wk Moving Avg||724K||721K||730K||752K||772K|
|4-Wk Moving Avg||3862K||3968K||4126K||4283K|