U.S. unemployment claims rose to 719,000 for the week ending March 27 after falling to the lowest levels since the pandemic hit in the previous week, the Labor Department reported.
- Initial claims increased by 61,000 last week from the previous week’s revised level of 658,000, the lowest since the COVID-19 pandemic hit.
- The four-week moving average fell 10,500 to 719,000 to mark the lowest level since March 14, 2020’s 225,500. The previous week’s average was revised down to 729,500.
- The seasonally adjusted insured unemployment rate was 2.7% for the week ending March 20, with the advance number for seasonally adjusted insured unemployment at 3.794 million.
- The largest increases in initial claims for the week were in Massachusetts, Texas, Connecticut, Maryland, and Virginia. Largest decreases were in Illinois, Ohio, California, New York, and Florida.
- For the week ending March 13 extended benefits were available in 16 states — Alaska, California, Colorado, Connecticut, District of Columbia, Illinois, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, Pennsylvania, Rhode Island, Texas, and the Virgin Islands.
- The highest insured unemployment rates in the week ending March 13 were in Pennsylvania, Nevada, Alaska, Puerto Rico, Connecticut, New York, California, Rhode Islands, the Virgin Islands, and Illinois.
Leave a Reply