The advance figure for seasonally adjusted initial claims for unemployment insurance unexpectedly rose to 344,000 in the week ending April 26, the highest level since February. Analysts emphasized that claims are volatile around this time of year because of the timing of Easter and school spring breaks, which makes it difficult to seasonally adjust the data. The four-week moving average, a less volatile gauge of underlying labor market conditions, was 320,000 — an increase of just 3,000 from the previous week's upward revised average of 317,000.
