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Weekly jobless claims rise

First-time jobless claims for the week ending April 3 rose from the week prior. Totals bumped above the Dow Jones estimate of 694,000 to 744,000. Despite the rise, continuing claims lowered as well as the total of those receiving benefits.

In the week ending April 3, the advance figure for seasonally adjusted initial claims was 744,000, an increase of 16,000 from the previous week’s revised level.

The previous week’s level was revised up by 9,000 from 719,000 to 728,000. The 4-week moving average was 723,750, an increase of 2,500 from the previous week’s revised average. The previous week’s average was revised up by 2,250 from 719,000 to 721,250.

Advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending March 27, unchanged from the previous week’s revised rate. The previous week’s rate was revised down by 0.1 from 2.7 to 2.6 percent.

The advance number for seasonally adjusted insured unemployment during the week ending March 27 was 3,734,000, a decrease of 16,000 from the previous week’s revised level. This is the lowest level for insured unemployment since March 21, 2020 when it was 3,094,000.

The previous week’s level was revised down by 44,000 from 3,794,000 to 3,750,000. The 4-week moving average was 3,862,000, a decrease of 105,750 from the previous week’s revised average. The previous week’s average was revised down by 10,750 from 3,978,500 to 3,967,750.