US Initial jobless claims last week rose by 5,000 to a total of 245,000, the US Department of Labor reported today. The previous week’s level was revised upward by 1,000.
Economists polled by Reuters had forecast 240,000 claims for the week ended April 15.
The combination of spring breaks, which temporarily left support staff at some school districts unemployed, and people who have exhausted their severance packages following a rush of layoffs in the technology sector and other areas of the economy sensitive to interest rates could account for part of the rise in claims last week, Reuters reported.
Meanwhile, the four-week moving average of claims fell by 500 in the latest week to 239,750.