A day ahead of the release of the more closely watched monthly jobs report, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits rose by more than expected in the week ended March 30th.
The report said initial jobless claims climbed to 221,000, an increase of 9,000 from the previous week’s revised level of 212,000.
Economists had expected jobless claims to inch up to 214,000 from the 210,000 originally reported for the previous week.
The Labor Department said the less volatile four-week moving average also crept up to 214,250, an increase of 2,750 from the previous week’s revised average of 211,500.
A separate report released by the Commerce Department on Thursday showed the U.S. trade deficit unexpectedly widened in the month of February.
The Commerce Department said the trade deficit increased to $68.9 billion in February from a revised $67.6 billion in January.
Economists had expected the trade deficit to narrow to $67.0 billion from the $67.4 billion originally reported for the previous month.
The report said the value of imports surged by 2.2 percent to $331.9 billion, while the value of exports shot up by 2.3 percent to $263.0 billion.
At 10 am ET, Philadelphia Federal Reserve President Patrick Harker is scheduled to participate in a fireside chat on “Second Chance Employment” before the Business Case for Second Chance Employment Conference.
The Treasury Department is due to announce the details of this month’s auctions of three-year and ten-year notes and thirty-year bonds at 11 am ET.
At 12:15 pm ET, Richmond Federal Reserve President Thomas Barkin is scheduled to deliver a speech on the economic outlook before the Home Building Association of Richmond.
Chicago Federal Reserve President Austan Goolsbee is due to participate in a moderated question-and-answer session before the Multi-Chamber Economic Outlook Luncheon and Expo at 12:45 pm ET.
At 2 pm ET, Cleveland Federal Reserve President Loretta Mester is scheduled to participate in a conversation on the economic outlook before a virtual Global Interdependence Center Executive Briefing.
Minneapolis Federal Reserve President Neel Kashkari is also due to participate in a discussion on the U.S. economy, the impact of inflation and the pandemic, and the boom of private credit and regulation in a “Linked Live” event at 2 pm ET.
At 7:20 pm ET, St. Louis Federal Reserve President Alberto Musalem is scheduled to give introductory remarks before the 2024 Women in Economics Symposium.
Federal Reserve Board Governor Adriana Kugler is also to speak on “Enriching Data and Analysis in Economics with Real Life Experiences” before the 2024 Women in Economics Symposium at 7:30 pm ET.