Highlights
Initial jobless claims continue to surprise to the downside, coming in at 234,000 in the April 8 week vs Econoday's consensus for 243,000. The 4-week average, at 247,250, is down 3,000 for the second straight decline. Continuing claims are also down, 7,000 lower in lagging data for the April 1 week to 2.028 million. These readings are low and favorable and consistent with strong demand for labor. There are no special factors in the week though Louisiana was once again estimated.

Consensus Outlook
Jobless claims fell sharply in the prior week though comparisons with much of March, where seasonal adjustments lifted totals, may have exaggerated the improvement. Initial jobless claims in the April 8 week are expected to reverse some of the decline in the April 1 week, rising 9,000 to a consensus 243,000.