COLUMBUS – The number of Ohioans filing first-time claims for unemployment benefits fell for the third straight week to the lowest level since October.
According to data the Ohio Department of Job and Family Services shared with the U.S. Department of Labor Thursday, Ohioans filed 8,283 initial claims last week, a 23.9% decline from the week before.
The number of first-time applicants has fallen 53% since April 2.
Initial unemployment claims reflect the pace of layoffs but the four-week average for claims, which evens out the weekly ups and downs, declined 13%.
The 41,216 continued claims filed was 8.1% fewer than the week that ended on April 16 and the total number of traditional claims filed from April 17-23 was down 11% from the previous week.
Ohio’s unemployment rate in March was a pandemic-era low of 4.1%.
The number Americans applying for unemployment benefits remains at historically low levels. The 1.4 million who applied during the week ending April 16 was the smallest number since February 21, 1970.
US economy shrinks but consumers keep spending
The U.S. economy shrank last quarter for the first time since the pandemic recession struck two years ago, contracting at a 1.4% annual rate, but consumers and businesses kept spending in a sign of underlying resilience.
The weak showing does not mean a recession is likely in the coming months. Most economists expect a rebound in the April-June quarter as solid hiring and wage gains sustain growth.