US INITIAL JOBLESS CLAIMS RISE TO 228K, MISSING ESTIMATES

The US initial jobless claims for the week ended April 2 were reported at 228,000

Fill in This marks an increase of 16,000 from the previous week's revised level of 212,000text

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The four-week moving average for jobless claims, a more reliable measure of the labor market, rose to 213,000

Continuing claims, which represent the total number of individuals receiving unemployment benefits, dropped to 1.711 million from 1.721 million in the previous week

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The increase in jobless claims was attributed to the rising number of coronavirus cases in some states, which has led to business restrictions and closures

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Many businesses are still struggling to hire workers, despite the recent reopening of the economy

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Fill in some The labor market has been a key focus for policymakers, as they aim to drive economic recovery from the pandemic

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The latest data highlights the ongoing challenges faced by the US labor market as it seeks to recover from the impact of Covid-19

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