Labor Department reports lowest seasonally adjusted unemployment since April 2024

The Labor Department reported 208,000 seasonally adjusted initial unemployment claims for the week ending Jan. 3, the lowest level since April 2024, and a four-week average of 211,750, the lowest since April 27, 2024.

The Department of Labor revised its weekly claims figures and reported 208,000 seasonally adjusted initial unemployment claims for the week ending Jan. 3. That adjusted total is the lowest level reported since April 2024. The department also reported a four-week moving average of 211,750, which it said is the lowest since April 27, 2024. Seasonally adjusted numbers account for predictable seasonal hiring and demand patterns. Key figures: - The Department of Labor added 8,000 to the seasonally adjusted count for the week ending Jan. 3, bringing it to 208,000, the lowest since April 2024. - The seasonally adjusted four-week average was 211,750, down 7,250 from the prior four-week average and the lowest since April 27, 2024 (210,250). - The seasonally adjusted number for the week ending Dec. 27 was revised up by 250 to 219,000. - Unadjusted initial filings for the week ending Jan. 3 were 300,860, an increase of 29,677, or 10.9%, from the prior week. - No states qualified for extended unemployment benefits based on their respective economic factors. - The states with the five highest unemployment rates for the week ending Dec. 20 were Washington (2.5%), New Jersey (2.4%), Massachusetts (2.3%), and Minnesota and Rhode Island (each 2.2%). Summary: Seasonally adjusted initial claims are at their lowest point since April 2024 while unadjusted filings rose week to week. Undetermined at this time.