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MW: Initial jobless claims dip; continuing claims hit new record
 
First-time claims for state unemployment benefits dipped a seasonally adjusted 20,000 to 654,000 in the week ended April 4, reaching a level that is 83% higher than the same period in the prior year, the Labor Department reported Thursday. The four-week average of these initial claims fell 750 to 657,250. For the week ended March 28, the number of people collecting state unemployment benefits reached yet another new record, gaining 95,000 to 5.84 million - double the level in the prior year. These continuing claims have gained for 12 consecutive weeks, and have reached new weekly records since late January. The four-week average of continuing claims rose 146,750 to a record 5.65 million. The insured unemployment rate - the proportion of covered workers who are receiving benefits - rose to 4.4% from 4.3%, reaching the highest level since April 1983.
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