Jobless Claims Rise to Four-Week High Amid Holiday
Filings for U.S. unemployment benefits rose to a four-week high last week, interrupting a run of subdued firings, a Labor Department report showed April 27.
Key Points
• Jobless claims increased by 14,000 to 257,000 (forecast was 245,000) in the week ended April 22.
• Number of people continuing to receive jobless benefits rose by 10,000 to 1.99 million in the week ended April 15 (these data reported with one-week lag).
• Four-week average of claims, a less volatile measure than weekly data, was little changed at 242,250 from 242,750.
Big Picture
Even with the increase, unemployment filings remain at a relatively low level and are on par with the 1970s, with employers more focused on adding and retaining workers than on firing them in a tight job market. An unusually late Easter holiday this year might have affected the data in recent weeks.
Other Details
• Prior week’s reading was revised to 243,000 from 244,000.
• Unemployment rate among people eligible for benefits remained at 1.4%.
• Louisiana was the only state with estimated claims last week.
• There was nothing unusual in the broader data, according to the Labor Department.
