Research >> Economics
Weekly Initial Unemployment Claims increase 11,000 to 239,000
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In the week ending April 8, the advance figure for seasonally adjusted initial claims was 239,000, an increase of 11,000 from the previous week's unrevised level of 228,000. This is the highest level for initial claims since January 15, 2022 when it was 251,000. The 4-week moving average was 240,000, an increase of 2,250 from the previous week's unrevised average of 237,750. This is the highest level for this average since November 20, 2021 when it was 249,250.
The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending April 1, 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 April 1 was 1,810,000, a decrease of 13,000 from the previous week's unrevised level of 1,823,000. The 4-week moving average was 1,813,500, an increase of 9,500 from the previous week's unrevised average of 1,804,000. This is the highest level for this average since November 13, 2021 when it was 2,007,000.
UNADJUSTED DATA
The advance number of actual initial claims under state programs, unadjusted, totaled 234,577 in the week ending April 8, an increase of 27,457 (or 13.3 percent) from the previous week. The seasonal factors had expected an increase of 16,898 (or 8.2 percent) from the previous week. There were 223,751 initial claims in the comparable week in 2022.
The advance unadjusted insured unemployment rate was 1.2 percent during the week ending April 1, a decrease of 0.1 percentage point from the prior week. The advance unadjusted level of insured unemployment in state programs totaled 1,800,785, a decrease of 43,663 (or -2.4 percent) from the preceding week. The seasonal factors had expected a decrease of 30,984 (or -1.7 percent) from the previous week. A year earlier the rate was 1.1 percent and the volume was 1,569,797.
The total number of continued weeks claimed for benefits in all programs for the week ending March 25 was 1,871,922, a decrease of 33,416 from the previous week. There were 1,706,658 weekly claims filed for benefits in all programs in the comparable week in 2022.
No state was triggered "on" the Extended Benefits program during the week ending March 25.
Initial claims for UI benefits filed by former Federal civilian employees totaled 399 in the week ending April 1, an increase of 9 from the prior week. There were 338 initial claims filed by newly discharged veterans, an increase of 10 from the preceding week.
There were 6,247 continued weeks claimed filed by former Federal civilian employees the week ending March 25, a decrease of 230 from the previous week. Newly discharged veterans claiming benefits totaled 3,986, a decrease of 251 from the prior week.
The highest insured unemployment rates in the week ending March 25 were in New Jersey (2.5), California (2.3), Massachusetts (2.3), Rhode Island (2.2), Minnesota (2.1), Illinois (1.9), New York (1.9), Alaska (1.8), Puerto Rico (1.8), Connecticut (1.7), Montana (1.7), and Oregon (1.7).
The largest increases in initial claims for the week ending April 1 were in Indiana (+4,457), Illinois (+1,933), Massachusetts (+1,216), Oregon (+1,052), and South Carolina (+211), while the largest decreases were in California (-6,833), Kentucky (-3,907), Michigan (-3,281), Ohio (-2,494), and New York (-1,711).
Posted: April 13, 2023 Thursday 08:30 AM