Unemployment Claims Remain Low

Roy Maurer By Roy Maurer May 5, 2022
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woman laid off

​States reported that 200,000 workers filed for new unemployment benefits during the week ending Apr. 30, an increase from recent weeks but far lower than one year ago. The number of workers continuing to claim unemployment benefits—1.38 million—is also well below its pre-pandemic average of 1.7 million.

Additional reports show that demand for workers is far outstripping supply. In March, job openings hit a record high of more than 11.5 million, outnumbering officially unemployed workers by about 5.5 million. Payroll processing firm ADP reported yesterday that U.S. employers added 247,000 jobs in April, coming in below economists' estimates. The employment report from the U.S. Bureau of Labor Statistics is due tomorrow.

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