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The number of people claiming for unemployment benefits in the US rose by 6,000 to 214,000 on the week ending April 18th, not too far from median market expectations of 212,000. In the meantime, continuing unemployment claims, which are seen as a proxy for outstanding unemployment in the US, inched higher by 12,000 to 1,821,000 in the earlier week. Both counts were firmly below the average from the previous year, consolidating the ongoing trend of low firing activity that is repeatedly stated by the Federal Reserve. Initial claims filed by federal employees, which have been under scrutiny as markets measure the impact of government shutdowns, fell by 60 to 452.
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