US Weekly Jobless Claims Decrease for the Week Ending April 1st

The US Department of Labor is reporting that the advance figure for seasonally adjusted initial unemployment claims was 228,000 during the week ending on Saturday, April 1st. This is a decrease of 18,000 from the previous week’s revised level of 246,000 (originally reported as 198,000). The 4-week moving average was 237,750—a decrease of 4,250 from the previous week’s revised level of 242,250 (originally reported as 198,250).

The advance number for seasonally adjusted insured unemployment, known as continuing claims, during the week ending March 25th was 1,823,000. This is an increase of 6,000 from the previous week’s revised level of 1,817,000 (originally reported as 1,689,000). This is the highest level of insured unemployment since December 11, 2021. The 4-week moving average was 1,804,000—an increase of 10,500 from the previous week’s revised level of 1,793,500 (originally reported as 1,691,750) and the highest level since November 13, 2021.

The advance seasonally adjusted insured unemployment rate was 1.3% for the week ending March 25th, unchanged from the previous week’s revised rate of 1.3% (originally reported as 1.2%).