- Prior was 202K (revised to 171K)
- Four week moving average initial jobless claims 170K vs 208.5K prior
- Continuing claims 1.523m vs 1.311m exp
This is a staggeringly-low number and highlights and extremely tight labour market. It's the lowest since at least 1968, when the US had half the population it does now.
Notably, the BLS changed it seasonal adjustment model in today's report. The unadjusted total was 193K, which is also extremely low and compares to 668K a year ago.
The largest increases in initial claims for the week ending March 26 were in Ohio (+3,580), Michigan (+3,545), California (+3,256), Texas (+2,251), and New York (+761), while the largest decreases were in Kentucky (-2,034), Pennsylvania (-732), Tennessee (-235), Florida (-165), and Connecticut (-138).
