The number of Americans submitting first-time unemployment claims dropped by 11,000 to 207,000 last week, according to fresh data released by the US Labor Department on Thursday.
Analysts had anticipated claims to reach 213,000, compared with a revised figure of 218,000 in the previous week, indicating a stronger-than-expected labor market performance.
Meanwhile, the four-week moving average, which helps smooth out weekly fluctuations, edged up slightly by 500 to 209,750.
Recent employment figures further reinforced economic strength, with the US economy generating 178,000 jobs in March—well above projections of 65,000. Additionally, the unemployment rate declined to 4.3%, improving from 4.4% recorded in February.
NEWS DESK
PRESS UPDATE