US initial jobless claims dropped to 4.4m, continuing claims rose to 16m

<p>US initial jobless claims dropped -810k to 4427k in the week ending April 18. Four-week moving average of initial claims rose 280k to 5787k. Continuing claims rose 4064k to 15976k in the week ending April 11, highest on record. Four-week moving average of continuing claims rose 3548k to 9598k. Full release here.</p>
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