US Initial Jobless Claims Highest in Near 3 Months


The number of Americans filing for unemployment benefits rose by 24 thousand to 242 thousand in the week ended March 31st 2018, from the previous week's upwardly revised 218 thousand. Figures came well above market expectations of 225 thousand. It was the highest level since the week ended January 6th.

The previous week's level was revised up by 3,000 from 215,000 to 218,000. The 4-week moving average was 228,250, an increase of 3,000 from the previous week's revised average. The previous week's average was revised up by 750 from 224,500 to 225,250. 

According to unadjusted data, the biggest rises in initial claims were seen in Illinois (2,568), Pennsylvania (2,440), New Jersey (1,984) and Ohio (1,537) while the main decrease was recorded in Texas (-3,056). Claims taking procedures in Puerto Rico (-295) and in the Virgin Islands (-14) have still not returned to normal.

The advance seasonally adjusted insured unemployment rate was 1.3 percent for the week ending March 24, unchanged from the previous week's unrevised rate. 

The advance number for seasonally adjusted insured unemployment during the week ending March 24 was 1,808,000, a decrease of 64,000 from the previous week's revised level. This is the lowest level for insured unemployment since December 29, 1973 when it was 1,805,000. The previous week's level was revised up 1,000 from 1,871,000 to 1,872,000. 

The 4-week moving average was 1,848,250, a decrease of 13,500 from the previous week's revised average. This is the lowest level for this average since January 5, 1974 when it was 1,838,500. The previous week's average was revised up by 250 from 1,861,500 to 1,861,750.

US Initial Jobless Claims Highest in Near 3 Months


DOL | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
4/5/2018 1:33:59 PM