US Job Market Resilience

In a positive turn for the US economy, initial jobless claims have seen a significant decrease. For the week ending April 12, claims dropped by 9,000 to a total of 215,000, as reported by the Department of Labor on Thursday.

4-Week Moving Average Declines

The 4-week moving average, a more stable measure of jobless claims, also showed improvement. It decreased by 2,500 to 220,750, down from the previous week's revised average of 223,250.

Insured Unemployment Rate Holds Steady

Meanwhile, the insured unemployment rate remained unchanged at 1.2% for the week ending April 5. However, the total number of unemployed individuals saw a slight increase, rising by 41,000 to 1,885,000. The 4-week moving average for insured unemployment was 1,867,250, marking a minimal increase of 1,000 from the previous week's revised average.