Unemployment benefit applications saw the biggest one-week drop since February from Easter Sunday to April 11, signaling that layoffs remain limited.
New U.S. Department of Labor (DOL) data revealed that the advance figure for seasonally adjusted initial unemployment insurance claims was 207,000, a decrease of 11,000 from the previous week’s revised level.
“The previous week’s level was revised down by 1,000 from 219,000 to 218,000,” the report stated. “The 4-week moving average was 209,750, an increase of 500 from the previous week’s revised average. The previous week’s average was revised down by 250 from 209,500 to 209,250.”
The DOL report underscores other recent data that indicate that the volatile job market may be smoothing out, with the Bureau of Labor Statistics (BLS) stating on April 3 that nonfarm payrolls rose 178,000 last month, the most since the end of 2024, and a higher figure than all estimates in a Bloomberg
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