WASHINGTON — Unemployment claims fell last week, signaling a steady labor market.
Claims stayed near historically low levels, according to data released by the Labor Department, despite uncertainty about how the ongoing war in Iran will affect the global economy.
Initial jobless claims for the week ending April 11 were 207,000, down 11,000 from the previous week. The 4-week moving average, which smooths out weekly volatility, rose slightly to 209,750. The unemployment rate held at 1.2 percent.
The previous week’s average was revised down by 250 from 209,500 to 209,250. The total number of continued claims for benefits in all programs for the week ending March 28 was 1,954,291, a decrease of 86,605 from the previous week.
Filings for unemployment benefits reflect layoff activity and provide a near real-time snapshot of the job market’s health.
States with the biggest increases in initial claims were New Jersey, Pennsylvania, Oregon, California, and Illinois. The largest decreases were in New York, Texas, Tennessee, Hawaii, and Louisiana.
Overall, the data points to a labor market that continues to show resilience, with layoffs remaining relatively low despite broader economic uncertainty.
Read the full report here.
Tagged with economy, jobless claims, unemployment