US Jobless Claims Hold Steady in Sign of Resilient Labor Market
Source: Bloomberg
April 18, 2024 at 8:33 AM EDT
Updated on April 18, 2024 at 8:54 AM EDT
Initial applications for US unemployment benefits remained subdued last week, consistent with a healthy job market.
Initial claims held at 212,000 in the week ended April 13, according to Labor Department data released on Thursday. The median forecast in a Bloomberg survey of economists called for 215,000. Continuing claims, a proxy for the number of people receiving unemployment benefits, were also little changed at 1.81 million in the week ended April 6.
The job market has remained surprisingly resilient despite elevated interest rates. Federal Reserve Chair Jerome Powell signaled Tuesday that the continued strength in the labor market and lack of progress on inflation could lead policymakers to keep interest rates elevated for longer.
The four-week moving average for initial claims, which helps smooth short-term fluctuations, has remained at 214,500 for the last three weeks.
Read more: https://www.bloomberg.com/news/articles/2024-04-18/us-applications-for-unemployment-benefits-held-steady-at-212-000
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Unemployment Insurance Weekly Claims
Initial claims were 212,000 for the week ending 4/13 ().
Insured unemployment was 1,812,000 for the week ending 4/6 (+2,000).
https://dol.gov/ui/data.pdf
Unemployment Insurance Weekly Claims dol.gov
8:31 AM · Apr 18, 2024
