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Saturday, March 28, 2020
HomeNewsEconomyFour-Week Average for Jobless Claims Lowest Since 1973

Four-Week Average for Jobless Claims Lowest Since 1973

Movements such as Ban the Box are helping ex-convicts find jobs upon their release from prison. (Photo: AP)
Movements such as Ban the Box are helping ex-convicts find jobs upon their release from prison. (Photo: AP)

Movements such as Ban the Box are helping ex-convicts find jobs upon their release from prison. (Photo: AP)

The Labor Department said Thursday that the four-week moving average for weekly jobless claims fell by 4,000 to 241,000, the lowest since July 21, 1973 when it was 239,500. The number of Americans filing for first-time state unemployment benefits for the week ending Feb. 18 was 244,000, an increase of 6,000 from the previous week’s revised level.

The previous week’s level was revised down by 1,000 from 239,000 to 238,000. The previous four-week average was revised down by 250 from 245,250 to 245,000.

A Labor Department analyst said no state was triggered “on” the Extended Benefits program during the week ending February 4.

The highest insured unemployment rates in the week ending February 4 were in Alaska (4.5), Montana (3.1), New Jersey (3.1), Connecticut (2.9), Rhode Island (2.8), Illinois (2.7), Massachusetts (2.7), Pennsylvania (2.7), Puerto Rico (2.7), and California (2.6).

The largest increases in initial claims for the week ending February 11 were in California (+4,213), Washington (+1,561), Oregon (+431), Virginia (+227), and Montana (+94), while the largest decreases were in Pennsylvania (-2,556), New Jersey (-2,301), New York (-1,410), Illinois (-1,353), and Michigan (-1,332).

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