Research >> Economics
Weekly Initial Unemployment Claims decrease 36,000 to 293,000
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In the week ending October 9, the advance figure for seasonally adjusted initial claims was 293,000, a decrease of 36,000 from the previous week's revised level. This is the lowest level for initial claims since March 14, 2020 when it was 256,000. The previous week's level was revised up by 3,000 from 326,000 to 329,000. The 4-week moving average was 334,250, a decrease of 10,500 from the previous week's revised average. This is the lowest level for this average since March 14, 2020 when it was 225,500. The previous week's average was revised up by 750 from 344,000 to 344,750.
The advance seasonally adjusted insured unemployment rate was 1.9 percent for the week ending October 2, 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 October 2 was 2,593,000, a decrease of 134,000 from the previous week's revised level. This is the lowest level for insured unemployment since March 14, 2020 when it was 1,770,000. The previous week's level was revised up 13,000 from 2,714,000 to 2,727,000. The 4-week moving average was 2,737,750, a decrease of 30,500 from the previous week's revised average. This is the lowest level for this average since March 21, 2020 when it was 2,071,750. The previous week's average was revised up by 3,250 from 2,765,000 to 2,768,250.
UNADJUSTED DATA
The advance number of actual initial claims under state programs, unadjusted, totaled 277,632 in the week ending October 9, an increase of 16,017 (or 6.1 percent) from the previous week. The seasonal factors had expected an increase of 52,018 (or 19.9 percent) from the previous week. There were 822,205 initial claims in the comparable week in 2020. In addition, for the week ending October 9, 38 states reported 21,913 initial claims for Pandemic Unemployment Assistance.
The advance unadjusted insured unemployment rate was 1.7 percent during the week ending October 2, a decrease of 0.1 percentage point from the prior week. The advance unadjusted level of insured unemployment in state programs totaled 2,252,670, a decrease of 151,657 (or -6.3 percent) from the preceding week. The seasonal factors had expected a decrease of 16,851 (or -0.7 percent) from the previous week. A year earlier the rate was 6.1 percent and the volume was 8,917,837.
The total number of continued weeks claimed for benefits in all programs for the week ending September 25 was 3,649,013, a decrease of 523,426 from the previous week. There were 24,902,586 weekly claims filed for benefits in all programs in the comparable week in 2020.
During the week ending September 25, Extended Benefits were available in the following 4 states: Alaska, Connecticut, New Jersey, and New Mexico.
Initial claims for UI benefits filed by former Federal civilian employees totaled 742 in the week ending October 2, an increase of 88 from the prior week. There were 467 initial claims filed by newly discharged veterans, a decrease of 18 from the preceding week.
There were 8,479 continued weeks claimed filed by former Federal civilian employees the week ending September 25, an increase of 114 from the previous week. Newly discharged veterans claiming benefits totaled 5,573, an increase of 2 from the prior week.
During the week ending September 25, 43 states reported 549,103 continued weekly claims for Pandemic Unemployment Assistance benefits and 45 states reported 440,435 continued claims for Pandemic Emergency Unemployment Compensation benefits.
The highest insured unemployment rates in the week ending September 25 were in Illinois (4.4), Puerto Rico (4.3), California (3.3), Hawaii (2.9), the Virgin Islands (2.8), New Jersey (2.7), District of Columbia (2.6), Nevada (2.6), Alaska (2.5), and Pennsylvania (2.5).
The largest increases in initial claims for the week ending October 2 was in Pennsylvania (+1,707), while the largest decreases were in California (-14,733), District of Columbia (-3,905), Michigan (-3,370), Missouri (-2,598), and Texas (-2,376).
Posted: October 14, 2021 Thursday 08:30 AM