Jobless Claims Fall as Expected


WASHINGTON (Reuters) - The number of Americans making new claims for jobless aid dropped 19,000 last week, the government said on Thursday, largely erasing an unexpected spike the previous week. First-time claims for state unemployment insurance benefits fell to 334,000 in the week ended April 2 from an upwardly revised 353,000 in the previous week, the Labor Department said. The new claims data was in line with market expectations for a drop to 332,000 from the original estimate of 350,000 for the week ended March 26. A Labor Department analyst said there were no special factors behind the drop. The closely watched four-week moving average, viewed by economists as a better gauge of labor trends because it irons out weekly volatility, also fell, inching down to 336,500 from 336,750. So-called continued claims -- the number of people who remain on the benefit rolls after drawing an initial week of benefits -- rose 90,000 to 2.69 million for the week ended March 26, the latest week for which data are available.
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