Applications for US unemployment benefits jumped to the highest level since February during the week that followed Easter.
Initial claims increased by 18,000 to 241,000 in the week ended April 26, according to Labor Department data released Thursday. The median forecast in a Bloomberg survey of economists called for 223,000 applications.
Before adjusting for seasonal factors, initial claims increased about 12,900 last week. Applications in New York alone rose more than 15,500.
New applications tend to be choppy from week to week, especially around holidays such as Easter. Up until now, claims had remained subdued in the face of uncertainty about the economic outlook. Any sustained increase in claims would suggest a weakening in what is currently seen as a resilient job market.
Continuing claims, a proxy for the number of people receiving benefits, rose to 1.92 million in the week ended April 19, the highest since 2021. That exceeds economists’ forecasts.
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