Out of work Americans applying for unemployment benefits rose steeply last week to the highest level in eight months.
In the week ending April 30, the advance figure for seasonally adjusted initial claims was 474,000, an increase of 43,000 from the previous week’s revised figure of 431,000, according to the U.S. Labor Department. The 4-week moving average was 431,250, an increase of 22,250 from the previous week’s revised average of 409,000.
This is a clear sign that the U.S. economy is not creating jobs as both political parties maneuver for advantage in the upcoming presidential election with no apparent desire to address current economic problems.
The highest insured unemployment rates in the week ending April 16 were in Alaska (6.0%), Puerto Rico (4.8), Oregon (4.4), Pennsylvania (4.2), California (4.1), Wisconsin (4.1), Rhode Island (3.9), Idaho (3.9), New Jersey (3.9), Nevada (3.8), and Montana (3.8).
The largest increases in initial claims for the week ending April 23 were in New Jersey (+5,326), Massachusetts (+4,027), Pennsylvania (+2,306), Ohio (+1,700), and Connecticut (+1,601), while the largest decreases were in Florida (-1,861), North Carolina (-1,662), Missouri (-1,618), New Mexico (-1,417), and Arizona (-1,138).