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MW: Initial jobless claims rise; continuing claims hit
 
First-time claims for state unemployment benefits rose a seasonally adjusted 27,000 to 640,000 in the week ended April 18, the Labor Department reported Thursday. After initial claims fell a revised 47,000 in the prior week, the most recent gain may dim hopes among some observers for a sustained trend of sharply falling claims. Still, the four-week average of initial claims fell 4,250 to 646,750 in the most recent weekly data. For the week ended April 11, the number of people collecting state unemployment benefits reached yet another new record, gaining 93,000 to hit 6.14 million - more than double the level in the prior year. These continuing claims have reached new weekly records since late January, signaling that workers are having a tough time finding jobs. The four-week average of continuing claims rose 142,500 to a record 5.94 million. The insured unemployment rate - the proportion of covered workers who are receiving benefits - rose to 4.6% from 4.5%, reaching the highest level since January 1983.
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