The data from the Labor Department announced on Thursday the number of applications
for unemployment increased more than anticipated last week.
According to the report, the initial claims for unemployment benefits jumped
by 13,000 to 242,000 for the week ended April 29.
Economists had expected 240,000 new claims last week.
the prior week were revised downwardly to 229,000 from the initial estimate of 230,000.
Meanwhile, the four-week moving average of jobless claims climbed to 239,250
from a downwardly revised 235,750 (from 236,000) in the previous week.
As for continuing claims, they decreased to 1,805,000
from a downwardly revised 1, 843,000 (from 1, 858,000)
in the previous week. That was the lowest
reading in three weeks.