The Labor Department released its weekly unemployment statistics on Thursday. It showed that 576,000 workers filed for unemployment benefits for the week ending on April 10th. The good news is that's the lowest number filing for unemployment benefits in over a year (since March of 2020). The bad news is that it's still more than double the number filing in a normal economy.
Here is the official statement from the Labor Department:
In the week ending April 10, the advance figure for seasonally adjusted initial claims was 576,000, a decrease of 193,000 from the previous week's revised level. This is the lowest level for initial claims since March 14, 2020 when it was 256,000. The previous week's level was revised up by 25,000 from 744,000 to 769,000. The 4-week moving average was 683,000, a decrease of 47,250 from the previous week's revised average. This is the lowest level for this average since March 14, 2020 when it was 225,500. The previous week's average was revised up by 6,500 from 723,750 to 730,250.
