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US jobless claims post fifth weekly drop

US jobless claims post fifth weekly drop

Mubasher: The number of unemployed individuals in the US who applied for benefits extended April decline last week, recording its lowest level in almost 50 years, according to data released on Thursday.

US unemployment claims edged down 5,000 week-on-week to 192,000 claims in the week ended 13 April. The prior week’s level was upwardly revised to 197,000, the US Department of Labor said. This is the lowest level seen since 6 September 1969, when it was 182,000.

The more stable 4-week average of claims fell 6,000 to 201,250 from the previous week's upwardly revised average of 207,250.

The initially seasonally adjusted insured unemployment rate for the week ended 6 April stabilised at 1.2% from the previous week’s unrevised rate.

The provisional seasonally adjusted figure for the insured jobless individuals in the US dropped 63,000 to 1.653 million during the week ended 6 April, compared to the prior week’s upwardly revised 1.716 million.

The advance unadjusted number of actual initial claims filed under state programmes reached a total of 195,374  in the week ended 13 April, edging down by 796 claims or 0.4% from the claims filed in the preceding week, while initial claims were 226,090 in the same week last year.

By 12:38 pm GMT, the US dollar index rose 0.38% to 97.3770.