Initial jobless claims rise more than expected

Initial jobless claims rose more than expected last week to 294,000.

Expectations were for claims to total 280,000, down from 281,000 last week. Last week’s four-week moving average of claims fell to the lowest since June 2000.

Last week’s number was also revised up slightly to 282,000.

The four-week moving average of claims rose slightly from last week’s nearly 15-year low, but rose by just 250.

Following the report, Ian Shepherdson at Pantheon Macro said, “In one line: Easter seasonals likely explain the increase; next week could be higher still. Trend flat.”

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