U.S. Weekly Jobless Claims Unexpectedly Rise

The number of Americans filing new claims for unemployment benefits unexpectedly rose last week, but the increase likely understates the rapidly improving labor market conditions as more parts of the economy reopen and fiscal stimulus kicks in. Initial claims for state unemployment benefits totaled a seasonally adjusted 744,000 for the week ended April 3 compared to 728,000 in the prior week, the Labor Department said on Thursday. Economists polled by Reuters had forecast 680,000 applications in the latest week. Read more at Reuters.