U.S. Jobless Claims Continue To Mark Pandemic Low

Unemployment claims in the United States dropped even further to mark another low since the COVID-19 pandemic for the third consecutive week, the Labor Department reported.

• Initial unemployment claims fell 13,000 to 553,000 for the week ending April 24. The previous week’s claims were revised higher by 19,000 to 566,000.
• The four-week moving average fell by 44,000 to 611,750 to mark the lowest level for the average since March 14, 2020’s 225,500.
• Initial unadjusted claims under state programs for the week ending April 24 fell by 1.6% to 575,350 from the previous week. Initial claims were recorded at 3.468 million the same week last year.
• The adjusted insured unemployment rate for the week ending April 17 was at 2.6%, with seasonally adjusted insured unemployment for the week up 9,000 to 3.660 million.
• For the week ending April 17, the largest increases in initial claims were in Virginia, Michigan, Indiana, Utah, and California.
• The largest decreases for the same week were recorded in Texas, New York, Georgia, Florida, and Washington.