While Overall Weekly Unemployment Claims Were Down, These States Still Saw Large Increases
In the week ending April 23, the advance figure for seasonally adjusted initial unemployment claims was 180,000, a decrease of 5,000 from the previous week’s revised level. The previous week’s jobless claim level was revised up by 1,000 from 184,000 to 185,000.
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Jeanniey Walden, Chief Marketing Officer at DailyPay, told GOBankingRates that this morning’s economic releases demonstrate the resilience of the labor market.
“First quarter GDP shrank 1.4%, well below expectations of a 1% gain and even further below last quarter’s 7% GDP gain. Against that economic volatility, the labor market keeps chugging along with jobless claims coming in at 180,000 on both a 1-week and 4-week moving average basis,” she said. “We are witnessing an historic decoupling between cyclical economic activity and job strength, fueled by a record imbalance in labor supply and demand.”
While the decline was in line with forecasts of economists polled by The Wall Street Journal, there were still a few states where jobless claims increased including New York, which had the most by far, with 4,821 added claims, the data shows.
Other states with large increases in claims include:
- Massachusetts (+3,411)
- Indiana (+1,345)
- Connecticut (+1,040)
- Rhode Island (+777)
However, some states saw large decreases in new claims last week, including Ohio, which led the pack with a 2,744 decrease in claims. Other states with large decreases in claims include:
- California, with a 2,083 decrease
- Michigan with a 1,992 decrease
- Florida, with a 644 decrease
As far as initial claims went, for the previous week ending April 16, the largest increases were in Connecticut (+1,391), New Jersey (+1,116), Rhode Island (+368), Montana (+340), and Maryland (+147). Missouri (-7,498), Michigan (-3,509), New York (-2,956), Ohio (-2,902), and Texas (-2,330) saw the largest drops in initial claims for the week.
In addition, the Labor Department data shows that in Missouri, there were fewer layoffs in the manufacturing and administrative and support and waste management and remediation services industries.
In Michigan, there were fewer layoffs in the automobile industry. In New York, meanwhile, there were fewer layoffs in the construction, retail trade and health care and social assistance industries.
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Finally, in Pennsylvania, there were fewer layoffs in the construction, administrative and support, waste management and remediations services, professional, scientific and technical service industries.
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