Jobless Claims Volatile in the US, But the Trend Remains Bearish
Skerdian Meta • 1 min read
Jobless claim surged during the pandemic in the US, as they did everywhere else. At some point the unofficial unemployment rate reached 40 million while the weekly jobless claims reached 6 million.
They have been declining since then, falling below 1 million earlier this year and were expected to continue the decline below 700K last week, but missed expectations and increased instead. Although, the overall trend remains bearish.
Initial jobless claims for the week ending April 3
- Initial jobless claims 744K vs 680K expected
- Prior was 719K
- Four week average 724K vs 721K prior
- Continuing claims 3734K vs 3638K expected
- Prior continuing claims 3638K
- PUA claims +152K vs +237K prior