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Economic Report: Jobless claims rebound only slightly from last week’s 49-year low

Reuters
A job seeker completes an application at a career fair in Philadelphia.

The numbers: One week after falling to the lowest level since 1969, initial U.S. jobless claims rebounded but only slightly. Claims rose by 2,000 to 211,000 in the seven days ended April 28—well below the average of 225,000 forecast of economists surveyed by MarketWatch.

The more stable monthly average of claims decreased by 7,750 to 221,500, the government said Thursday. That is the lowest level since March 1973.

The number of people already collecting unemployment benefits, known as continuing claims, fell by 77,000 to 1.76 million.

What happened: Claims were set to rebound after last week’s surprising drop to a 49-year low.

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