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Jobless claim average rises, initial claims jump 24,000

April 05, 2018

The US four-week moving average of initial claims for unemployment insurance rose to 228,250 last week, up 3,000 from the previous week’s average, the US Department of Labor reported. The previous week’s average was revised up by 750.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended March 31 rose to 242,000, up 24,000 from the previous week’s level, which was revised up by 3,000.

Claims-taking procedures in Puerto Rico and in the Virgin Islands still have not returned to normal.

MarketWatch reported initial unemployment claims jumped to a three-month high last week, but the surge likely reflected issues with seasonal adjustment around the Easter holiday. Its poll of economists had forecast claims to total 225,000.