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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