Weekly US initial jobless claims and continuing claims

Initial jobs claims
  • Prior week initially reported at 498K revised to 507K
  • Initial jobless claims 473K. The lowest reading since the start of the pandemic
  • 4-week moving average of initial jobs claims 534K versus last week's 562.25K (revised)
  • Continuing claims 3655K vs 3650K estimate. Prior week revised to 3700K versus 3690K previously reported
  • 4-week moving average of continuing claims 3665K vs 3678.25K last week.
  • During the week ending April 24, 51 states reported 7,283,703 continued weekly claims for Pandemic Unemployment Assistance benefits and 51 states reported 5,265,193 continued claims for Pandemic Emergency Unemployment Compensation benefits.
  • The largest increases in initial claims for the week ending May 1 were in Kentucky (+4,714), New Jersey (+2,002), Delaware (+1,294), Vermont (+1,142), and Puerto Rico (+824),
  • The largest decreases were in Virginia (-25,125), New York (-9,533), Florida (-8,252), California (-7,840), and Oklahoma (-6,392).

The claims are the lowest since March 14, 2020 when it was at 256K. Nevertheless the number is still at relatively high levels historically.