US Initial Jobless Claims Lowest Since 1969

The number of Americans filing for unemployment benefits decreased by 24 thousand to 209 thousand in the week ended April 21st from the previous week's upwardly revised 233 thousand. This is the lowest level for initial claims since December 6, 1969 when it was 202 thousand. Figures came well below market expectations of 230 thousand. However, the Easter holiday, school spring break and the return of educational service workers is likely to have influenced the general figure.

The 4-week moving average which removes week-to-week volatility went down by 2,250 to 229,250. The previous week's 4-week moving average was revised up by 250 from 231,250 to 231,500. 

According to unadjusted data, the biggest declines in initial claims were seen in NY (-18,402), California (-3,527) and New Jersey (-1,868) while the main increases were reported in Massachusetts (+4,166) and Rhode Island (+1,707). Claims taking procedures in Puerto Rico (-149) and in the Virgin Islands (5) have still not returned to normal. 

The advance seasonally adjusted insured unemployment rate was 1.3 percent for the week ending April 14, unchanged from the previous week's unrevised rate.

Continuing claims decreased by 29,000 to 1,837,000 during the week ending April 14. The previous week's level was revised up 3,000 from 1,863,000 to 1,866,000. The 4-week moving average was 1,849,750, a decrease of 9,750 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 750 from 1,858,750 to 1,859,500. 

US Initial Jobless Claims Lowest Since 1969

DOL | Luisa Carvalho |
4/26/2018 1:29:14 PM