U.S. first-time unemployment claims at three-month high
The numbers: The number of people who applied for jobless benefits at the end of April stood at a three-month high of 230,000 for the second week in a row, but the recent increase in new claims is likely inflated by the recent Easter holiday and spring break.
The more stable monthly average of new claims rose by 6,500 to 212,500, but it remained near the lowest level in a half century. The four-week average gives a more accurate read into labor-market conditions than the more volatile weekly number. What happened: Jobless claims have ranged from 193,000 to 230,000 in the past month, largely because of seasonal distortions caused by the timing of the Easter holiday. Easter fell on April 1 in 2018 and April 21 of this year.
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