01:38 PM EDT, 04/23/2026 (MT Newswires) -- Weekly applications for unemployment insurance in the US increased more than expected, while continuing claims largely matched Wall Street's estimates, government data showed Thursday.

For the week through April 18, the seasonally adjusted number of initial claims increased by 6,000 to 214,000 from the previous week's average that was adjusted upward by 1,000, the Department of Labor said. The consensus was for a 210,000 reading in a Bloomberg poll.

The four-week moving average totaled 210,750, up by 750 from the prior week's revised average.

"We remain of the mind that the conflict in Iran is unlikely to cause significant disruptions in the US labor market," Jefferies Chief US Economist Thomas Simons said in a note on Thursday. "There are many vulnerable points in the global economy that are at risk in the near-term due to potential shortages of all sorts of commodities, but for better or worse, the US economy is likely going to be the most insulated in the world."

Seasonally adjusted continuing claims for the week ended April 11 reached 1.82 million, largely in line with the Street's view. Continuing claims rose 12,000 from the previous week's level, according to the DOL. The four-week moving average increased by 1,250 to about 1.81 million.

"Continuing claims have more or less been bouncing around in a sawtooth pattern for the last few months, but the trend has been lower than levels that prevailed during the second half of 2025 and the beginning of 2024," Simons said.

US President Donald Trump extended a ceasefire with Iran earlier in the week, though he said the naval blockade of Iranian ports would continue. The status of a second round of talks between Washington and Tehran remained unclear.