First time claims for U.S. unemployment benefits unexpectedly edged lower in the week ended March 28th, according to a report released by the Labor Department on Thursday.
The report said initial jobless claims dipped to 202,000, a decrease of 9,000 from the previous week’s revised level of 211,000.
Economists had expected jobless claims to inch up to 212,000 from the 210,000 originally reported for the previous week.
The Labor Department said the less volatile four-week moving average also edged down to 207,750, a decrease of 3,000 from the previous week’s revised average of 210,750.
A separate report released by the Commerce Department on Thursday showed the U.S. trade deficit increased by less than expected in the month of February.
The Commerce Department said the trade deficit widened to $57.3 billion in February from a revised $54.7 billion in January.
Economists had expected the trade deficit to jump to $60.1 billion from the $54.5 billion originally reported for the previous month.
The wider trade deficit came as the value of imports surged by 4.3 percent to $372.1 billion, while the value of exports shot up by 4.2 percent to $314.8 billion.
At 10:15 am ET, Dallas Federal Reserve President Lorie Logan is due to participate in a fireside chat before the Eleventh District Banking Conference.
The Treasury Department is scheduled to announce the details of this month’s auctions of three-year and ten-year notes and thirty-year bonds at 11 am ET.