This morning the state Employment Security Department reported that it received 82,435 new claims for unemployment insurance during the April 12 -April 18 week. This is a decrease of 60,806 from the 143,241 claims filed during the preceding week. The four-week moving average of initial claims is 144,429, down from 156,060 for the preceding week.

We estimate that the seasonally adjusted 4-week average of initial claims was 151,790, down from 165,590 the preceding week.

Continuing claims for unemployment insurance totaled 523,126 in the most recent week. This is an increase of 87,235 over the preceding week.

Up to now, the weekly UI claims report has not included any persons claiming benefits as independent contractors, which recent federal legislation now allows. This will change next week. The ESD press release quotes Employment Security Commissioner Suzi LeVine:

It is hard to imagine that the fifth highest week of claims in Washington state history could be considered the calm before the storm, but that is certainly what we saw last week. Although remaining at historic levels, the initial claims dropped last week before the tsunami of applications began this week when we launched the expanded benefit applications under the federal CARES Act. The updates went live on Saturday night, after which we received more applications in 36-hours than we did during the entire record-breaking week at the end of March. While we know many more are struggling to apply in the crush of volume we’re receiving, we will keep working until everyone gets the money for which they are eligible.”

Fasten your seat belts.