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The number of Americans filing for unemployment benefits rose more than expected last week, evidence the labor market is continuing to soften in the face of higher borrowing costs.

Figures released Thursday by the Labor Department show initial claims for the week ended April 15 rose by 5,000 to 245,000. That is above the 2019 pre-pandemic average of 218,000 claims. Continuing claims, filed by Americans who are consecutively receiving unemployment benefits, also rose to 1.85 million for the week ended April 8, an increase of 61,000 from the previous week.

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LIVE STOCK MARKET UPDATES: Morgan Stanley, Ally Financial, Citizens, and other banks report earningsA speech from the NY Fed's John Williams, IBM, and Tesla earnings. More on the ongoing banking crisis and looming recession. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
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This Investing Tool Can Help You Conquer The Stock Market For Only $120Feel empowered to expand your knowledge and education to trade with ease and expertise.
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Stock market news today: China's economic growth beats viewsUS stocks climb on strong Chinese economic growth and upbeat earnings 美国股市攀升，因中国经济强劲增长和盈利乐观
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Stock market outlook: Fed and earnings push Mike Wilson to stay bearishHere's why Morgan Stanley's top equity strategist is staying bearish on stocks despite the latest rally “Workers didn’t get hit hard enough so we need to tank things so we can fire a bunch and force lower salaries”
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Asian Stock Market: Grinds lower amid fresh fears from China, Fed, Oil eases on DXY reboundAsian Stock Market: Grinds lower amid fresh fears from China, Fed, Oil eases on DXY rebound – by anilpanchal7 Asia China Fed RiskAppetite Equities
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