While the Labor Department released a report on Thursday unexpectedly showing a modest increase in first-time claims for U.S. unemployment benefits in the week ended April 18th, initial jobless claims remained below 300,000 for the seventh consecutive week.
The report said initial jobless claims edged up to 295,000, an increase of 1,000 from the previous week’s unrevised level of 294,000. The modest uptick came as a surprise to economists, who had expected jobless claims to dip to 290,000.
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