By CountingPips.com
U.S. jobless claims decreased by less than expected in the week that ended on April 16th, according to a release by the U.S. Labor Department today. Weekly initial jobless claims fell by 13,000 workers to a total of 403,000 unemployed workers following a revised total of 416,000 jobless claims recorded the previous week. The 4-week moving average of unemployed workers increased by 2,250 workers from the previous week to a total of 399,000.
Market forecasts were expecting jobless claims to decline to a total of 390,000 workers.
Workers seeking continuing claims for unemployment benefits for the week ending April 9th also decreased for the week. Continuing claims fell by 7,000 workers to a total of 3,695,000 unemployed workers following a total of 3,702,000 workers seeking continuing claims the week prior. The 4-week moving average of continuing claims dropped by 17,500 workers to a total of 3,716,750.
