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Labor Department Announces Steep Increase in Jobless Claims

News release: “In the week ending March 28, the advance figure for seasonally adjusted initial claims was 669,000, an increase of 12,000 from the previous week’s revised figure of 657,000. The 4-week moving average was 656,750, an increase of 6,500 from the previous week’s revised average of 650,250. The advance seasonally adjusted insured unemployment rate was 4.3 percent for the week ending March 21, an increase of 0.1 percentage point from the prior week’s unrevised rate of 4.2 percent. The advance number for seasonally adjusted insured unemployment during the week ending March 21 was 5,728,000, an increase of 161,000 from the preceding week’s revised level of 5,567,000. The 4-week moving average was 5,496,500, an increase of 163,500 from the preceding week’s revised average of 5,333,000. The fiscal year-to-date average for seasonally adjusted insured unemployment for all programs is 4.700 million.”

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