US initial jobless claims rise to 200,000

(Sharecast News) - Americans lined up for unemployment benefits at an accelerated pace in the week ended 2 May, according to the Labor Department, after hitting a 57-year low a week earlier.

US initial jobless claims rose by 10,000 from the previous week's upwardly revised level to 200,000, below market expectations of 205,000,

Continuing claims, on the other hand, fell by 10,000 to 1.76m, their lowest level since 2024, while the four-week moving average, which aims to strip out week-to-week volatility, dropped by 4,500 to 203,250.

Elsewhere, the advance seasonally adjusted insured unemployment rate came to 1.2% for the week ended 25 April, unchanged from the previous week's unrevised rate.

Reporting by Iain Gilbert at Sharecast.com