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Stock Market News: Dow, S&P 500 Fall Sharply
The Nasdaq Composite declined, too.
Last Updated:
April 25, 2024 at 5:27 PM EDT
11 days ago
Jobless Claims Decline
Jobless claims for the week ended April 20 dropped when economists were expecting an increase as the labor market remains sturdy.
Jobless claims of 207,000 declined by 5,000 from the prior week, according to the Labor Department. Economists surveyed by FactSet were expecting claims of 215,000.
The 4-week moving average was 213,250, a decrease of 1,250 from the previous week.
Continuing claims of 1.78 million dropped by 15,000, while economists were expecting claims of 1.81 million.
The labor market has remained strong. More details about the current state of the country’s employment situation will be available next week when the Bureau of Labor Statistics releases the monthly U.S. jobs report. Economists expect that the U.S. added 196,500 jobs in April, which would be a drop from the 303,000 added in March. The unemployment rate is expected to remain at 3.8%.