Applications for U.S. state unemployment insurance fell slightly last week to a level that’s consistent with an exceptionally tight labor market.
Initial unemployment claims decreased by 2,000 to 184,000 in the week ended April 16, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for 180,000 initial applications.
Continuing claims for state benefits dropped to 1.42 million in the week ended April 9, the lowest since 1970.
The continued low level of filings for jobless benefits — close to the lowest since the 1960s — highlights a job market in which demand for labor exceeds supply. The latest claims figures correspond with the survey week for the Labor Department’s monthly jobs report, which will be released on May 6.
On an unadjusted basis, initial claims decreased by more than 27,000 to 196,897 last week.
Missouri, Michigan and Ohio were states registering the biggest declines in unadjusted claims. Connecticut and New Jersey led those with increases in applications last week.
