The job market is strengthening as employers look to fill positions that were left empty by pandemic restrictions that have now been eased. Growth should speed up even more following a nationwide goal of administering an average of 3 million vaccinations per day. The claims data follow strong manufacturing, retail sales and other indicators in recent weeks.
U.S. stock futures erased losses after the report, and Treasury 10-year yields and the dollar fluctuated.
Continuing claims for ongoing state benefits fell 34,000 to 3.67 million in the week ended April 10. Applications for Pandemic Unemployment Assistance for self-employed and gig workers rose slightly.
Texas and New York were among states with the largest declines, while Florida and Georgia also saw sizable decreases.
Ohioans filed 22,098 initial jobless claims last week, according to statistics the Ohio Department of Job and Family Services reported to the U.S. Department of Labor. That figure was down from 23,117 initial claims filed in the prior week, and 44,985 claims filed the week before that.
Originally Appeared On: https://www.crainscleveland.com/economic-outlook/us-jobless-claims-fall-pandemic-low-economy-accelerates