This is the 112th straight week in which the figure has been below 300,000, the unofficial marker of a healthy labor market.
Results from today’s report from the US Department of Labor indicate that US initial jobless claims rose by 13,000 in the week ended April 29, bringing the total to a total of 242,000. This is still far-off from the 300,000 mark which is indicative of a healthy labor market, as the figure has remained below this threshold for the past 112 weeks. Additionally, despite the increase in claims, economists surveyed by Reuters forecasted claims would total 240,000. Lastly, the four-week moving average of initial claims rose by 3,500 to a level of 239,250.
Overall, today’s report suggests that while the labor market is still tight, the weekly claims data continues to stay beneath the indicator of a healthy labor market.
