Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Initial Jobless Claims Up 0.7%, Still Near Pre-Recession Levels

Initial jobless claims edged up 0.7% to 304,000 for the week ending April 12, according to a Labor Department report released today.

After dropping a revised 9% to pre-recession levels the previous week, this newest report keeps the labor market in solid territory. Analysts had expected an increase, but their prediction of 312,000 initial claims proved overly pessimistic. 

Source: Author, data from Labor Department. 

From a more long-term perspective, a 1.5% decline in the four-week moving average to 312,000 initial claims shows consistent strength for U.S. employment. That number is the lowest four-week average since October 2007, just two months before the Great Recession started. Both the latest week's claims and the four-week average fall significantly below 400,000, a cutoff point that economists consider a sign of an improving labor market.

On a state-by-state basis, only California and Iowa recorded a decrease of more than 1,000 initial claims for the week ending April 5 (most recent available data). California's 13,890-initial-claim drop was due primarily to fewer services layoffs, while Iowa tipped its hat to fewer manufacturing layoffs for its 1,270 dip. 

For the same period, nine states registered increases of more than 1,000 initial claims. Michigan made the biggest jump, up 4,290 as the wholesale trade industry increased layoffs. Pennsylvania's 2,340 increase put it in second place. The state cited construction, administrative and support, and manufacturing layoffs for its initial-claims hike. 

-- Material from The Associated Press was used in this report. link

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2919362, ~/Articles/ArticleHandler.aspx, 8/28/2015 6:41:57 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Justin Loiseau

Energy and Macroeconomic Specialist keeping investors up to date with macro news, utilities, and good companies doing good things.

Today's Market

updated Moments ago Sponsored by:
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 1.21 0.06%
NASD 4,828.33 15.62 0.32%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes