The number of U.S. workers filing new applications for unemployment insurance fell slightly less than expected last week, government data showed on Thursday, implying only a gradual labor market improvement.
Initial claims for state unemployment benefits dropped 11,000 to a seasonally adjusted 448,000 in the week ended April 24, the Labor Department said.
Analysts polled by Reuters had expected claims to fall to 445,000 from the previously reported 456,000, which was modestly revised up to 459,000 in Thursday’s report.
Aside: Who are these analysts and why can’t they get it right? If I got it wrong as often as they do, I’d turn in my analysts’ union card.
All seriousness aside, these anonymous unnamed analyists were off by 0.6% That’s hardly worth mentioning, except that it takes up an additional column inch.