U.S initial unemployment claims dropped by 53,000 in the week ended April 5, after of an increase of 38,000 in the previous week.

The advance figure for seasonally adjusted initial unemployment claims was 357,000, in the week ended April 5, down 12.9%, from the previous week's revised figure of 410,000. The four-week moving average was 378,250, an increase of 2,500 from the previous week's revised average of 375,750.