Jobless Claims Rose Last Week, Pausing Downward Trend
By Bryan Mena
Worker filings for initial unemployment benefits rose by 37,000
to 412,000 last week, marking the first increase since late April
and pausing what had been a steady downward trend in filings.
The increase was the biggest jump since late March, the Labor
Department said Thursday. Claims for the prior week were revised
slightly to 375,000.
The four-week moving average, which smooths out week-to-week
volatility, reached a new pandemic low of 395,000. This is the
lowest average level since March 2020, when the pandemic first took
hold in the U.S.
The latest claims figures came as Covid-19 restrictions continue
to wane. Total new claims in recent weeks have moved closer to what
economists consider a normal range.
The long-term average of initial jobless claims dating back to
1967--including periods of expansion and recession--is 371,763,
according to Labor Department data.
Write to Bryan Mena at firstname.lastname@example.org
(END) Dow Jones Newswires
June 17, 2021 09:03 ET (13:03 GMT)
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