Decrease in Jobless Claims Signals ‘Persistent Labor Market Strength’
In the week ending March 28, the advance figure for seasonally adjusted initial claims was 268,000, a decrease of 20,000 from the previous week’s revised level. The previous week’s level was revised up by 6,000 from 282,000 to 288,000. The 4-week moving average was 285,500, a decrease of 14,750 from the previous week’s revised average. The previous week’s average was revised up by 3,250 from 297,000 to 300,250.
The advance seasonally adjusted insured unemployment rate was 1.7% for the week ending March 21, a decrease of 0.1 percentage point from the previous week’s unrevised rate.
According to a related Bloomberg report, lines at state employment agencies were about as short as they’ve been in 15 years, adding to evidence of persistent labor-market strength that’s boosting Americans’ spirits.
To view the full U.S. Department of Labor report, click here.