A worker prepares cows to be milked at a dairy farm in Mount Vernon, Washington. Photo credit: David Ryder/Bloomberg
Applications for US unemployment benefits rose last week, though they remain at a level consistent with low layoffs.
Initial claims increased by 6,000 to 214,000 in the week ended April 18, according to Labor Department data released Thursday. The median forecast in a Bloomberg survey of economists called for 210,000. That period coincides with the reference period for the government’s April employment report.
Continuing claims, a proxy for the number of people receiving benefits, rose to 1.82 million in the previous week.
Initial filings continue to hover around some of the lowest levels seen in the last year, aligning with other recent data that suggests the labor market is stabilizing. While roughly one in two employed Americans is concerned about losing their job, according to a Harris Poll conducted for Bloomberg News in late March, the claims data have yet to reflect a meaningful pickup in layoffs.
