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Jobless claims average rise; initial claims drop back to 1970s level

April 12, 2018

The US four-week moving average of initial claims for unemployment insurance rose to 230,000 last week, up 1,750 from the previous week’s unrevised average, the US Department of Labor reported.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended April 7 fell to 233,000, down 9,000 from the previous week’s unrevised level.

Claims-taking procedures in Puerto Rico and in the Virgin Islands have still not returned to normal.

MarketWatch reported initial unemployment claims returned to nearly the lowest levels since the early 1970s after a holiday-related boost at the end of March that pushed them to the highest level of 2018. Its poll of economists had forecast initial claims to total 230,000.