Jobless claims match 1968 low – WKOW

by | Apr 7, 2022 | Financial

America’s labor market is on fire. There are far more available jobs than workers and the latest data on initial weekly unemployment claims underscores that imbalance.Initial claims for jobless benefits fell to 166,000 in the week ended April 2, adjusted for seasonal swings, the Labor Department reported Thursday. That was far fewer than the 200,000 or so claims that economists had predicted. It also matches the number of first-time claims from the week ended March 19, which was the lowest level since November 1968, after revisions.The four-week average of first-time claims is now 170,000, after a series of adjustments by the DOL.”We saw big revisions in this week’s initial and continuing claims figures due both to the usual annual revisions and a change in the seasonal adjustment procedure,” said Mike Englund, chief economist at Action Economics.The Labor Department announced changes to its methodology on Thursday.At the start o …

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