Applications for jobless claims edged down in the week ending April 9 to their lowest level since 1970, according to the U.S. Department of Labor.
“The advance number for seasonally adjusted insured unemployment during the week ending April 9 was 1,417,000, a decrease of 58,000 from the previous week’s unrevised level of 1,475,000. This is the lowest level for insured unemployment since February 21, 1970, when it was 1,412,000,” said an April 21 news release (pdf) from the Labor Department.
“The 4-week moving average was 1,481,750, a decrease of 31,250 from the previous week’s revised average. This is the lowest level for this average since March 21, 1970, when it was 1,456,750.”
Seasonally adjusted initial claims for the week ending April 16 was 184,000, a decrease of 2,000 from the previous week’s revised level of 186,000. While initial claims report new jobless benefit filings, continuing claims are a measure of ongoing jobless benefit claims for multiple weeks.
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