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Unemployment filings rise slightly; over 200K for first time since February

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Unemployment filings rise slightly; over 200K for first time since February
Thursday's unemployment snapshot was the first after the Labor Department said last week that the U.S. economy added almost 430,000 jobs during the month of April. File Photo by Kevin Dietsch | License Photo

May 12 (UPI) -- A little more than 200,000 U.S. workers have filed new unemployment claims, the Labor Department said in its weekly update on Thursday -- a figure that was in line with most analysts' projections.

The department's report showed 203,000 new filings last week, an increase of several hundred from the previous week.

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Most economists expected the unemployment snapshot to show between 195,000 and 200,000 new claims.

Thursday's figure is the highest number of new filings since February, but most experts say the level they're at show a stable workforce. The weekly number of new claims has been relatively constant since the department reported 166,000 new filings at the start of April, which was the fewest since 1968.

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The unemployment snapshot is the first since the department said a week ago that the U.S. economy added almost 430,000 jobs during the month of April, which solidly beat expectations.

The Labor Department also reported last week that there were a record 11.5 million openings nationwide at the end of March after 4.5 million American workers quit their jobs. File Photo by Jim Ruymen/UPI

Wednesday, the Labor Department reported that consumer prices in the United States -- a key inflation index -- increased slightly in April, but remained at the highest level in more than 40 years. Job growth typically has a sizable influence on inflation.

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The department's follow-up report on Thursday, the Producer Price Index, showed that wholesale prices in the United States were up 11% in the 12 months ending in April.

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"While it is heartening to see that annual inflation moderated in April, the fact remains that inflation is unacceptably high," President Joe Biden said on Wednesday. "Inflation is a challenge for families across the country and bringing it down is my top economic priority."

The Labor Department also reported last week that there were a record 11.5 million openings nationwide at the end of March after 4.5 million American workers quit their jobs.

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Press Secretary Jen Psaki conducts her final briefing as White House press secretary in the James S. Brady Press Briefing Room on Friday. Photo by Oliver Contreras/UPI | License Photo

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