Unemployment Claims Drop

Today the Department of Labor announced that 328,000 people filed first-time claims for unemployment insurance the week-ending April 3. That marks a decrease of 14,000 (4.1%) from the previous week’s unrevised figure.

The four-week average has also fallen to 336,750, a decrease of 3,250 (1.0%) from the previous week’s revised average.

A drop in initial claims is an indication that companies are laying off less.

Of states with a decrease of over 1,000 claims, Indiana, with a 1,019 decrease in claims, noted layoffs in the manufacturing sector are leveling off.

In Tennessee there were fewer layoffs in the transportation equipment industries with a statewide 1,621 decrease.

In Pennsylvania, with a 1,733 decrease in claims, there were fewer layoffs in construction.

Of states posting an increase of over 1,000 claims, North Carolina, with a 1,279 jump, had notable layoffs in the construction sector.