New jobless claims on U.S. programs rose more than analysts last week, but the broader picture continues to show that the job market is growing at a healthy pace.
In particular, the initial applications for unemployment benefits increased by 14,000 to 202,000 for the week ended March 26, according to the US Department of Labor. Analysts’ average estimates in a Bloomberg poll put the applications at 196,000.
Ongoing applications, meanwhile, fell further to 1.3 million for the week ended March 19.
On Friday, the US Department of Labor will announce data on new jobs and unemployment in March. Analysts expect the data to show that the US economy added another 500,000 jobs in March, leading to a further drop in unemployment to 3.7%.
Source: Capital
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