The number of Americans filing new applications for jobless benefits surged by more than expected in the week ended April 26, amid a weak labor market and recession fears that have intensified after the US economy contracted for Q1 2025.
A report released by the Labor Department today, May 1, showed that initial unemployment claims climbed to 241,000 — an increase of 18,000 from the previous week’s revised level of 223,000. Economists had expected jobless claims to rise to 224,000.
The report also indicated that the less volatile four-week moving average soared to 226,000, marking a 5,500 hike from the previous week’s revised average of 220,500.
The White House’s recent sweeping trade tariffs are widely projected to fuel a wave of job losses, as demand weakens, companies turning to layoffs, and the ongoing plans to cut federal employees.
Investors are awaiting tomorrow’s nonfarm payrolls report from the Bureau of Labor Statistics. Expectations suggest the US economy adding 130,000 jobs last month, according to a Reuters poll.
US Weekly Jobless Claims
Item
Last Year
Previous Week
Latest Week
Change
Initial Claims (‘000)
209.0
223.0
241.0
+18
Four-Week Average (‘000)
210.25
220.5
226.0
+5.5
Total Beneficiaries (mln)
1.771
1.833
1.916
+0.083
The number of Americans filing new applications for jobless benefits surged by more than expected in the week ended April 26, amid a weak labor market and recession fears that have intensified after the US economy contracted for Q1 2025.
A report released by the Labor Department today, May 1, showed that initial unemployment claims climbed to 241,000 — an increase of 18,000 from the previous week’s revised level of 223,000. Economists had expected jobless claims to rise to 224,000.
The report also indicated that the less volatile four-week moving average soared to 226,000, marking a 5,500 hike from the previous week’s revised average of 220,500.
The White House’s recent sweeping trade tariffs are widely projected to fuel a wave of job losses, as demand weakens, companies turning to layoffs, and the ongoing plans to cut federal employees.
Investors are awaiting tomorrow’s nonfarm payrolls report from the Bureau of Labor Statistics. Expectations suggest the US economy adding 130,000 jobs last month, according to a Reuters poll.
US Weekly Jobless Claims
Item
Last Year
Previous Week
Latest Week
Change
Initial Claims (‘000)
209.0
223.0
241.0
+18
Four-Week Average (‘000)
210.25
220.5
226.0
+5.5
Total Beneficiaries (mln)
1.771
1.833
1.916
+0.083
