Research >> Economics
Weekly Initial Unemployment Claims increase 21,000 to 218,000
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In the week ending May 14, the advance figure for seasonally adjusted initial claims was 218,000, an increase of 21,000 from the previous week's revised level. The previous week's level was revised down by 6,000 from 203,000 to 197,000. The 4-week moving average was 199,500, an increase of 8,250 from the previous week's revised average. The previous week's average was revised down by 1,500 from 192,750 to 191,250.
The advance seasonally adjusted insured unemployment rate was 0.9 percent for the week ending May 7, a decrease of 0.1 percentage point from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending May 7 was 1,317,000, a decrease of 25,000 from the previous week's revised level. This is the lowest level for insured unemployment since December 27, 1969 when it was 1,304,000. The previous week's level was revised down by 1,000 from 1,343,000 to 1,342,000. The 4-week moving average was 1,362,250, a decrease of 22,500 from the previous week's revised average. This is the lowest level for this average since January 24, 1970 when it was 1,361,000. The previous week's average was revised down by 250 from 1,385,000 to 1,384,750.
UNADJUSTED DATA
The advance number of actual initial claims under state programs, unadjusted, totaled 198,711 in the week ending May 14, an increase of 12,811 (or 6.9 percent) from the previous week. The seasonal factors had expected a decrease of 6,111 (or -3.3 percent) from the previous week. There were 451,302 initial claims in the comparable week in 2021.
The advance unadjusted insured unemployment rate was 0.9 percent during the week ending May 7, a decrease of 0.1 percentage point from the prior week. The advance unadjusted level of insured unemployment in state programs totaled 1,285,490, a decrease of 48,063 (or -3.6 percent) from the preceding week. The seasonal factors had expected a decrease of 24,149 (or -1.8 percent) from the previous week. A year earlier the rate was 2.6 percent and the volume was 3,666,448.
The total number of continued weeks claimed for benefits in all programs for the week ending April 30 was 1,371,448, a decrease of 68,885 from the previous week. There were 15,970,923 weekly claims filed for benefits in all programs in the comparable week in 2021.
No state was triggered "on" the Extended Benefits program during the week ending April 30.
Initial claims for UI benefits filed by former Federal civilian employees totaled 473 in the week ending May 7, an increase of 34 from the prior week. There were 389 initial claims filed by newly discharged veterans, an increase of 11 from the preceding week.
There were 6,546 continued weeks claimed filed by former Federal civilian employees the week ending April 30, a decrease of 617 from the previous week. Newly discharged veterans claiming benefits totaled 4,499, an increase of 111 from the prior week.
The highest insured unemployment rates in the week ending April 30 were in California (2.1), New Jersey (2.0), Alaska (1.8), New York (1.5), Puerto Rico (1.4), Rhode Island (1.4), Massachusetts (1.3), Minnesota (1.3), and Illinois (1.2).
The largest increases in initial claims for the week ending May 7 were in California (+3,046), Ohio (+772), Texas (+452), Arkansas (+393), and Iowa (+337), while the largest decreases were in New York (-9,899), Kentucky (-1,479), Indiana (-1,341), Florida (-746), and Massachusetts (-615).
Posted: May 19, 2022 Thursday 08:30 AM