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US Weekly Jobless Claims Rose to 200,000 Last Week as Layoffs Rises in April

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New applications for unemployment benefits jumped for the first since early April amid other signs the US labor market remains unexpectedly tight.

Source: US Department of Labor

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Initial jobless claims, a proxy for layoffs, rose by 19,000 to 200,000 last week from the prior week’s revised level of 181,000.

Filings for unemployment benefits have remained close to historic lows since late 2021. The four-week average for claims increased to 188,000 from the prior week’s revised 180,000.

Continuing claims, a proxy for the total number of people getting payments from state unemployment programs, dropped to 1.4 million from the week ended April 23.

The low number of jobless workers’ claims is one of the signs of a robust labor market that has solid job growth and high demand for workers.

 

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