Research >> Economics
Weekly Initial Unemployment Claims Unch at 217,000
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In the week ending March 2, the advance figure for seasonally adjusted initial claims was 217,000, unchanged from the
previous week's revised level. The previous week's level was revised up by 2,000 from 215,000 to 217,000. The 4-week
moving average was 212,250, a decrease of 750 from the previous week's revised average. The previous week's average
was revised up by 500 from 212,500 to 213,000.
The advance seasonally adjusted insured unemployment rate was 1.3 percent for the week ending February 24,
unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured
unemployment during the week ending February 24 was 1,906,000, an increase of 8,000 from the previous week's
revised level. The previous week's level was revised down by 7,000 from 1,905,000 to 1,898,000. The 4-week moving
average was 1,888,250, an increase of 10,250 from the previous week's revised average. This is the highest level for this
average since December 11, 2021 when it was 1,888,250. The previous week's average was revised down by 1,750 from
1,879,750 to 1,878,000.
UNADJUSTED DATA
The advance number of actual initial claims under state programs, unadjusted, totaled 213,152 in the week ending March
2, an increase of 17,378 (or 8.9 percent) from the previous week. The seasonal factors had expected an increase of 17,561
(or 9.0 percent) from the previous week. There were 238,840 initial claims in the comparable week in 2023.
The advance unadjusted insured unemployment rate was 1.4 percent during the week ending February 24, unchanged
from the prior week. The advance unadjusted level of insured unemployment in state programs totaled 2,115,383, an
increase of 23,929 (or 1.1 percent) from the preceding week. The seasonal factors had expected an increase of 15,183 (or
0.7 percent) from the previous week. A year earlier the rate was 1.4 percent and the volume was 1,970,023.
The total number of continued weeks claimed for benefits in all programs for the week ending February 17 was
2,121,432, a decrease of 1,397 from the previous week. There were 1,920,610 weekly claims filed for benefits in all
programs in the comparable week in 2023.
No state was triggered "on" the Extended Benefits program during the week ending February 17.
Initial claims for UI benefits filed by former Federal civilian employees totaled 330 in the week ending February 24, a
decrease of 7 from the prior week. There were 323 initial claims filed by newly discharged veterans, a decrease of 38
from the preceding week.
There were 6,589 continued weeks claimed filed by former Federal civilian employees the week ending February 17, a
decrease of 230 from the previous week. Newly discharged veterans claiming benefits totaled 4,184, an increase of 170
from the prior week.
The highest insured unemployment rates in the week ending February 17 were in New Jersey (2.8), Rhode Island (2.7),
Minnesota (2.5), California (2.4), Massachusetts (2.4), Illinois (2.2), Montana (2.1), Alaska (2.0), New York (2.0), and
Pennsylvania (2.0).
The largest increases in initial claims for the week ending February 24 were in Massachusetts (+4,032), Rhode Island
(+1,936), Connecticut (+429), California (+311), and Missouri (+310), while the largest decreases were in Oklahoma
(-1,943), Texas (-1,121), Michigan (-980), Oregon (-823), and Florida (-752).
Posted: March 7, 2024 Thursday 08:30 AM