Filings for U.S. unemployment benefits rose to a four-week high last week, interrupting a run of subdued firings, a Labor Department report showed Thursday.
Key Points
- Jobless claims increased by 14,000 to 257,000 (forecast was 245,000) in the week ended April 22
- Number of people continuing to receive jobless benefits rose by 10,000 to 1.99 million in the week ended April 15 (these data reported with one-week lag)
- Four-week average of claims, a less volatile measure than weekly data, was little changed at 242,250 from 242,750
Big picture
Even with the increase, unemployment filings remain at a relatively low level and are on par with the 1970s, with employers more focused on adding and retaining workers than on firing them in a tight job market. An unusually late Easter holiday this year might have affected the data in recent weeks.
Other Details
- Prior week’s reading was revised to 243,000 from 244,000
- Unemployment rate among people eligible for benefits remained at 1.4%
- Louisiana was the only state with estimated claims last week
- There was nothing unusual in the broader data, according to the Labor Department
