Applications for US unemployment benefits rose to five-week high, a sign that progress in the strongest part of the economy may be moderating.
jobless claims increased by 17,000 to 274,000 the week ended April 30, a report from the Labor Department showed Thursday. The median forecast in a Bloomberg survey was for 260,000. The jump was the biggest in more than a year.
Other new applications increases would likely be required to mark a shift in sentiment among hiring managers on the prospects for the economy after the weakest quarter of growth in two years. Focus turns to the payrolls data due Friday of the Ministry of Labour, and forecasts call for another gain stable employment in April.
"I see no real reason to initial requests to change the tone quite in the near term, but if there was a risk we can some signs of upper edge," David Sloan, senior economist at 4Cast Inc. in New York, said before the report. "the job growth looks a little too hard to be maintained indefinitely."
forecast in the Bloomberg survey ranged from 250,000 to 275,000. Deposits dropped to 248,000 in mid-April, the lowest since 1973.
Although there was nothing unusual in the data, said last week estimated for Washington, DC, according to the Labor department.
average four weeks
the four-week average of jobless claims, a less volatile measure . that the weekly figure rose to 258,000 from 256,000 the previous week Deposits were below 300,000 for 61 weeks -. The longest since 1973 and a level economists say is consistent with a healthy labor market
The number of people continuing to receive unemployment benefits fell by 8,000 to 2,0,000 in the week ended April 23, the lowest level since November 00. the unemployment rate among people eligible for benefits fell to 1.5 percent from 1.6 percent. These data are reported with a lag of one week.
monthly employment report The Labor Department is expected to show employment was flat in April. Economists expect about 0,000 jobs were added last month after rising 215,000 in March.
responsible for meeting Federal Reserve last week noted that "a number of recent indicators, including gains of solid job, said the further strengthening of the labor market", even passing on raising the benchmark interest rate from its range of 0.25 percent to 0.5 percent. Central bankers next meeting June 14-15.
Bloomberg
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