US Initial Jobless Claims fell by -11K to 207K in the week ending April 10, below expectations of 215K, indicating continued strength in the labor market. The 4-week moving average rose slightly to 209,750, but remains consistent with the low level of layoffs overall.
However, the ongoing allegations tell a more accurate story. The number of people receiving continuing unemployment benefits rose by 31,000 to 1.818 million, suggesting it will take a little longer for displaced workers to find new jobs. Despite the weekly increase, the 4-week average fell to 1.813 million, the lowest level since early June 2024, indicating broadly stable fundamental conditions.
Together, lower initial claims indicate limited layoffs, while higher continuing claims indicate some decline in rehiring dynamics.
| index | Latest | Notes |
|---|---|---|
| Initial unemployment claims | 207k | Decreased by -11K, below expectations of 215K |
| Average 4 weeks (initial) | 209.8 thousand | It’s at +0.5k, still low overall |
| Continuing claims | 1.818 m | Up +31k, rehiring slower |
| Average 4 weeks (continuous) | 1.813 m | Down -8.25k, the lowest since June 2024 |
