Washington, DC, United States (AHN) – Initial claims for jobless benefits decreased slightly during the week ending May 7, with 434,000 newly unemployed workers filing claims compared to the 478,000 the prior week.
That amounted to a 44,000 decrease in first time claims for unemployment compensation insurance benefits.
Although that is a move in the right direction, analysts say that only getting the numbers below the 400,000 mark and keeping them down will signal the nation’s economy is turning around.
In addition, the less volatile 4-week moving average was 436,750, which represented an increase of 4,500 from the previous week’s revised average of 432,250, the U.S. Department of Labor said.
The total number of people claiming benefits in all programs has dipped down below the 8 million mark, standing at 7,983,672 for the week ending April 23, which is the most recent week such data is available. That was a decrease of 31,247 from the week ending April 16.
Here’s a look at the states with the largest increases in first time claims for the week ending April 30, the latest week for which that data is available:
- New York (+24,431)
- Michigan (+3,948)
- Wisconsin (+3,746)
- North Carolina (+2,749)
- Ohio (+2,319)
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