Initial jobless claims last week were a bit higher than expected but still reflective of a labor market where employers are loathe to fire workers.
First-time claims for benefits in the week ended April 16 totaled 184,000 for the week, a decline of 2,000 from the previous week but just ahead of the Dow Jones estimate for 182,000, the Labor Department reported Thursday. The numbers indicate that the U.S. employment picture remains historically tight as job openings outnumber the available labor pool by about 5 million.
Continuing claims, which run a week behind the headline number, fell by 58,000 to 1.417 million, the lowest level since Feb. 21, 1970.
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California job market ranks 8th most-volatile in USCalifornia’s job market lived with far above-average gyrations in the past three decades.
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Stock futures gain on earnings optimism, jobless claims on tapU.S. equity futures traded higher Thursday morning after a day that saw the Dow gain 250 points, helped by results from IBM.
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