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U.S. Jobless Claims Rise as Labor Market Recovery Remains Choppy

  • Applications increased by 61,000, led by Virginia and Kentucky
  • Last week’s data revised down to below Great Recession peak
Bloomberg business news
U.S. Initial Jobless Claims Unexpectedly Rise
Updated on

Applications for U.S. state unemployment insurance unexpectedly rose last week but remained near the lowest levels of the pandemic as the labor market meanders toward full recovery.

Initial jobless claims in regular state programs increased to 719,000 in the week ended March 27, up 61,000 from the prior week, Labor Department data showed Thursday. Economists in a Bloomberg survey estimated 675,000 claims. The prior week’s figure was revised down to 658,000, which is below the Great Recession’s peak.