US joblessness exceeds expectations with surge in claims

US jobless claims rose unexpectedly in the week ended April 15 and remained above the 200,000 mark.

And the US Department of Labor said initial jobless claims in the US increased by 5,000 claims over the past week from the previous week’s level to 245,000 claims.

Last week’s result was contrary to the expectations of analysts who, in a survey conducted by the DailyFX portal, predicted that the figure would be at the level of 240,000 requests, compared with an unadjusted level of 239,000 requests the previous week.

The average number of initial applications over the past four weeks decreased by 0.5 thousand to 239.75 thousand from the previous week’s revised level of 240.25 thousand.

Source: Prime