The data from the Labor Department reported on Thursday the number of applications
for unemployment unexpectedly dropped last week.
According to the report, the initial claims for unemployment benefits fell
by 16,000 to 230,000 for the week ended April 22. That marked the first decrease in first-time unemployment claims in three weeks.
Economists had forecast 248,000 new claims last week.
Claims for the
prior week were revised upwardly to 246,000 from the initial estimate of 245,000.
Meanwhile, the four-week moving average of jobless claims declined to 236,000
from an upwardly revised 240,000 (from 239,750) in the previous week. That represented
the lowest count in five weeks.
As for continuing claims, they decreased to 1,858,000
from a downwardly revised 1,861,000 (from 1,865,000) in the previous week.