Jobless Claims in US – Increased 16,000 to a seasonally adjusted 326,000

While a third report showed an increase in the number of Americans filing new claims for unemployment benefits last week, the underlying trend in the data continued to point to some strength in the labor market. 

Initial claims for state unemployment benefits increased 16,000 to a seasonally adjusted 326,000, the Labor Department said. The four-week moving average for new claims, which irons out week-to-week volatility, hovered near six-month lows.

Claims have been generally stable in March, supporting expectations of an acceleration in job growth during the month.

The government’s closely watched employment report on Friday is expected to show nonfarm payrolls increased by 200,000 jobs last month after rising 175,000 in February, according to a Reuters survey of economists. The unemployment rate is seen falling one-tenth of a percentage point to 6.6 percent.

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