US initial jobless claims rose by 7,000 in the week ended March 25 to a total of 198,000, the US Department of Labor reported today.
CNBC reported claims data was slightly higher than expectations but remained generally low. The total indicates that companies are reluctant to lay workers off despite expectations that the unemployment rate will rise through the year.
Meanwhile, the four-week moving average of initial claims rose by 2,000 to a level of 198,250.