New U.S. unemployment benefit claims came in below analyst expectations, signaling continued stability in the labor market.
The U.S. Department of Labor reported Thursday that initial jobless claims for the week ending April 11 totaled 207,000, down 11,000 from the previous week. The figure was below the 215,000 forecast compiled by Dow Jones and marked the largest weekly decline since February. However, the reporting period included the Easter holiday, which may have contributed to some volatility in the data.
Continuing claims, which track people receiving unemployment benefits for two or more weeks, rose by 31,000 to 1.818 million for the week ending April 4. The figures suggest the U.S. labor market remains broadly stable, with corporate layoffs staying at low levels.
Still, some analysts note that companies are taking a cautious approach to new hiring amid rising oil prices and uncertainty stemming from tensions involving Iran.
The Federal Reserve's Beige Book, a regional economic survey released Wednesday, indicated that labor demand remained "stable" across most districts and layoffs were limited.
