Initial jobless claims fell below 400k for the first time since the pandemic began, according to the latest data from the Department of Labor (DOL)
- Initial claims were 385,000, a decrease of 20,000 from the previous week’s revised level.
- The 4-week moving average was 428,000, a decrease of 30,500 from the previous week’s revised average.
Looking at a state level, southern states were almost completely shut out of both top fives…
- The largest increases in initial claims were in Delaware (+2,187), Illinois (+1,688), Pennsylvania (+1,347), California (+773), & Rhode Island (+644).
- The largest decreases were in Washington (-8,020), New Jersey (-5,290), Florida (-4,679), Ohio (-3,844), & Michigan (-2,605).
The total number of continued claimed benefits in all programs was 15,435,982, a decrease of 366,178 from the previous week.
- The highest insured unemployment rates were in Nevada (5.5), Rhode Island (4.6), Puerto
Rico (4.5), Connecticut (4.3), & Alaska (4.2).