Jobless Claims Hit 15-Year Low
In the week ending April 25, the advance figure for seasonally adjusted initial claims was 262,000, a decrease of 34,000 from the previous week’s revised level. This is the lowest level for initial claims since April 15, 2000 when it was 259,000. The 4-week moving average was 283,750, a decrease of 1,250 from the previous week’s revised average.
The advance seasonally adjusted insured unemployment rate was 1.7 percent for the week ending April 18, unchanged from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending April 18 was 2,253,000, a decrease of 74,000 from the previous week’s revised level. This is the lowest level for insured unemployment since December 2, 2000 when it was 2,229,000.
According to a related Bloombergreport, with job openings at a 14-year high and prospects for stronger growth after the first-quarter setback, companies are intent on maintaining headcounts. The level of firings is consistent the Federal Reserve’s view of sustained progress in the job market, Bloomberg reported.
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