U.S jobless claims in the week ending March 27 rose by 61,000 to 719,000, according to the Department of Labor press release. The jobless claims were higher than expected 675,000.
Previous week’s jobless claims were revised down by 26,000 from 684,000 to 658,000.
Continuous claims fell by 46,000 to 3.8 million
Previous week’s continuous claims were revised down by 30,000 from 3.87 million to 3.84 million
The four-week moving average claims fell by 10,500 to 719,000, the lowest since March 2020 at the onset of the pandemic.
While the weekly claims remain high by historical measures, the trend is falling as the economy continues to reopen and vaccinations accelerate.
Unadjusted advance initial claims under state programs was 714,433, for the week ending March 27, a 9.7% drop from the previous week.
U.S. stocks are currently gaining as the dollar loses. SPY is up 0.65%, QQQ is up 1.63%, EURUSD is up 0.08%
