Insights From the Precision Staffing Team

Weekly initial jobless claims rose by 11,000 to 428,000, versus last week’s figure which was upwardly revised by 3,000 to 417,000, and compared to the 411,000 level that economists had expected. Also, the four-week moving average, considered a smoother look at the trend in claims, rose by 4,000 to 419,500, while continuing claims fell by 12,000 to 3,726,000, above the forecast of economists, which called for continuing claims to come in at 3,710,000.