U.S. Jobless Claims Fell 39K to 547K in April 17 Week -- Update

By Amara Omeokwe

Worker filings for jobless benefits declined to 547,000 last week, a new pandemic low that adds to evidence of a strengthening labor market and overall economic recovery.

Initial unemployment claims, a proxy for layoffs, fell 39,000 last week from an upwardly revised 586,000 the prior week. That put new claims on a seasonally adjusted basis below 600,000 for two consecutive weeks in mid-April, their lowest levels since early 2020. The four-week moving average, which smooths out volatility in the weekly figures, was 651,000, also a pandemic low.

Claims remain higher than the pre-pandemic levels--the weekly average in 2019 was about 218,000--but last week's drop extended a downward trend since the start of this year.

Write to Amara Omeokwe at [e-mail]

(END) Dow Jones Newswires

04-22-21 0903ET