New York posts drop in initial unemployment claims

In New York state, 6,443 fewer people filed for first-time unemployment-insurance benefits in the week ending April 20 compared to the week before, according to a U.S. Labor Department report issued this morning. 

Fewer layoffs in the Empire State’s transportation, food service, and health care and social-assistance industries led the decline, according to New York officials.

New York’s decrease in initial jobless claims was second only to California, which reported that claims fell by 16,681 in the week ending April 20, compared to the week culminating on April 13. Michigan posted the biggest increase in unemployment claims with a gain of 6,172 claims over the week before. The state data is not seasonally adjusted.

The U.S. Labor Department today also reported that nationwide first-time applications for unemployment benefits fell by 18,000 to 324,000 for the week ending April 27, compared to the revised figure for the week before. Economists had been expecting a figure of about 345,000.

The four-week moving average for initial claims fell by 16,000 to 342,250 in the latest week. The U.S. data is seasonally adjusted.