10:17 AM EDT, 04/18/2024 (MT Newswires) -- Weekly applications for unemployment insurance in the US came in lower than Wall Street's expectations, according to government data released Thursday, reflecting a robust labor market.

The seasonally adjusted number of initial claims remained flat at 212,000 in the week ended April 13, the US Department of Labor said. The consensus was for a 215,000 level in a survey of analysts compiled by Bloomberg. The previous week's reading was revised up by 1,000.

The four-week moving average was unchanged at 214,500, "remaining at the lower end of the range since claims started to fall in the middle of September last year," Jefferies Economist Thomas Simons wrote in a note. Unadjusted claims declined by 6,756 on a weekly basis to 208,509.

For the week ended April 6, seasonally adjusted continuing claims totaled 1.81 million, below the Bloomberg consensus for 1.82 million. Continuing claims rose by 2,000 from the previous week's level that was revised down by 7,000. The four-week moving average was about 1.81 million, increasing by 4,250 from the previous week's average, which was revised down by 1,750 to 1.8 million, according to the DOL.

"We now expect that claims are going to continue to trend sideways for the foreseeable future. If we do see consumer spending slow down meaningfully, or if we see layoff announcements accelerate, then we will have to adjust our view once again," according to Simons.

New Jersey saw the highest gain in initial claims for the week ended April 6 at 4,339, followed by New York with 2,499 and Pennsylvania with 1,783. The largest decrease was in Iowa, where claims fell by 1,418, followed by California and Ohio.

Federal Reserve Vice Chair Philip Jefferson said Tuesday that he expects the labor market to "remain strong," with demand and supply "continuing to rebalance." Earlier in the month, the Bureau of Labor Statistics reported that the US added more jobs than expected in March while monthly wage growth accelerated.