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US initial jobless claims 498K versus 538K estimate

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US initial jobless claims and continuing claims for the current week

Initial jobs claims
  • initial jobless claims 498K versus 538K estimate.  Prior week was revised higher by 37K to 590K from 553K and this reported
  • four-week moving average of initial jobs claims 560K versus 621K last week. This was the lowest since March 14, 2020
  • continuing claims 3690k vs 3620K estimate.  Prior week was revised down to 3653k from 3660K previously reported
  • four-week moving average of continuing claims 3675.75K vs 3682.50K last week
  • During the week ending April 17, 51 states reported 6,862,705 continued weekly claims for Pandemic Unemployment
    Assistance benefits and 51 states reported 4,972,507 continued claims for Pandemic Emergency Unemployment
    Compensation benefits. 
  • The largest increases in initial claims for the week ending April 24 were in Virginia (+23,605), Florida (+9,179),
    Michigan (+8,234), California (+5,731), and Oregon (+4,064),
  • The largest decreases were in Texas (-12,673),
    Wisconsin (-7,504), Tennessee (-4,063), Georgia (-3,617), and Iowa (-3,026).

The initial claims was the lowest level since March 14, 2020 when it came in at 256K.
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