U.S. Unemployment Claims Fall To Lowest Since Coronavirus Pandemic

Unemployment insurance claims fell in late March to the lowest level since the pandemic hit, according to data released by the Department of Labor.

• Initial claims fell to 684,000 in the week ending March 20, down 97,000 from the previous week’s revised level of 781,000. The latest reading is the lowest since claims were at 282,000 on the week of March 14, 2020. 
• The four-week moving average fell 13,000 to 736,000; and the previous week’s average was revised up by 2,750 to 749,000.
• The advance seasonally adjusted insured unemployment rate fell 0.2 percentage points to 2.7%.
• For the week ending March 13, largest increases in initial claims were in Texas, Illinois, Indiana, Alabama, and Massachusetts. The largest decreases were in Ohio, West Virginia, South Carolina, Mississippi, and New York.
• For the week ending March 6, there were 2.006 million weekly claims filed. Extended benefits were available in 16 states.
• Highest insured unemployment rates for the same week were in Pennsylvania, the Virgin Islands, Nevada, Alaska, New York, Connecticut, Illinois, Rhode Island, Massachusetts, and New Mexico.