The number of Americans applying for unemployment benefits was unchanged last week and remains historically low as the labor market continues to show resiliency in the face of high interest rates and elevated inflation.
The Labor Department reported Thursday that unemployment claims for the week ending April 27 was 208,000, the same as the previous week. That’s the fewest since mid-February.
The four-week average of claims, which softens some of the weekly volatility, fell by 3,500 to 210,000.
Weekly unemployment claims are considered a proxy for the number of U.S. layoffs in a given week and a sign of where the job market is headed. They have remained at historically low levels since the pandemic purge of millions of jobs in the spring of 2020.
In total, 1.77 million Americans were collecting jobless benefits during the week that ended April 20. That’s also the same as the previous week.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
