Mumbai: The number of Americans filing for unemployment benefits bounced back from a 42-1/2-year low last week, but the underlying trend remained consistent with tightening labor market conditions.
Initial claims for state unemployment benefits increased 9,000 to a seasonally adjusted 257,000 for the week ended April 23, the Labor Department recently.
Claims for the prior week were revised to show 1,000 more applications than previously reported.
There were no special factors impacting this week’s initial claims. This marks 60 consecutive weeks of initial claims below 300,000, the longest streak since 1973.