People wait in line to attend TechFair LA in Los Angeles, Calif. (Photo: Reuters)
The Labor Department said jobless claims rose 14,000 for the week ending April 22 to a higher-than-expected 257,000. Still, at 242,250, the 4-week average is now slightly lower and compares well with the 250,000 levels of late March.
Continuing claims, in lagging data for the week ending April 15, rose slightly to 1.988 million and 4-week average also moved lower, to 2.007 million. That’s a new 17-year low. The unemployment rate for insured workers (excludes job leavers and re-entrants) remains at a very low 1.4 percent.
Claims data can be uneven during holiday periods such as Easter. However, the 4-week averages have been solid evidence that the labor market has remained very healthy this month, which is a positive indication for the employment report due out on Friday.
A Labor Department analyst said there are no special factors in today’s report, though Louisiana once again had to be estimated. No state was triggered “on” the Extended Benefits program during the week ending April 8.
The highest insured unemployment rates in the week ending April 8 were in Alaska (3.5), Puerto Rico (2.6), New Jersey (2.5), Connecticut (2.4), California (2.3), Illinois (2.3), Pennsylvania (2.3), Massachusetts (2.2), Rhode Island (2.2), and Montana (1.9). The largest increases in initial claims for the week ending April 15 were in California (+3,386), New Jersey (+3,098), Maryland (+1,563), Ohio (+1,239), and Connecticut (+992), while the largest decreases were in Texas (-3,478), Illinois (-1,953), Florida (- 1,725), Arizona (-1,472), and Oregon (-1,400).
