Research >> Economics
Weekly Initial Unemployment Claims decrease 4,000 to 267,000
|
In the week ending November 6, the advance figure for seasonally adjusted initial claims was 267,000, a decrease of 4,000 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 2,000 from 269,000 to 271,000. The 4-week moving average was 278,000, a decrease of 7,250 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 500 from 284,750 to 285,250.
The advance seasonally adjusted insured unemployment rate was 1.6 percent for the week ending October 30, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending October 30 was 2,160,000, an increase of 59,000 from the previous week's revised level. The previous week's level was revised down by 4,000 from 2,105,000 to 2,101,000. The 4-week moving average was 2,245,000, a decrease of 110,750 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 down by 1,000 from 2,356,750 to 2,355,750.
The advance number of actual initial claims under state programs, unadjusted, totaled 254,478 in the week ending November 6, an increase of 12,759 (or 5.3 percent) from the previous week. The seasonal factors had expected an increase of 16,848 (or 7.0 percent) from the previous week. There were 720,432 initial claims in the comparable week in 2020. In addition, for the week ending November 6, 38 states reported 1,862 initial claims for Pandemic Unemployment Assistance.
The advance unadjusted insured unemployment rate was 1.4 percent during the week ending October 30, unchanged from the prior week. The advance unadjusted level of insured unemployment in state programs totaled 1,904,160, an increase of 19,168 (or 1.0 percent) from the preceding week. The seasonal factors had expected a decrease of 39,661 (or -2.1 percent) from the previous week. A year earlier the rate was 4.4 percent and the volume was 6,463,834.
The total number of continued weeks claimed for benefits in all programs for the week ending October 23 was 2,565,853, a decrease of 107,095 from the previous week. There were 21,713,655 weekly claims filed for benefits in all programs in the comparable week in 2020.
During the week ending October 23, 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 1,090 in the week ending October 30, an increase of 348 from the prior week. There were 415 initial claims filed by newly discharged veterans, an increase of 8 from the preceding week.
There were 7,927 continued weeks claimed filed by former Federal civilian employees the week ending October 23, a decrease of 58 from the previous week. Newly discharged veterans claiming benefits totaled 5,047, a decrease of 381 from the prior week.
During the week ending October 23, 42 states reported 253,593 continued weekly claims for Pandemic Unemployment Assistance benefits and 43 states reported 256,496 continued claims for Pandemic Emergency Unemployment Compensation benefits.
The highest insured unemployment rates in the week ending October 23 were in Puerto Rico (3.7), California (2.8), District of Columbia (2.5), New Jersey (2.5), the Virgin Islands (2.5), Alaska (2.4), Hawaii (2.4), Illinois (2.2), Nevada (2.2), and Oregon (1.9).
The largest increases in initial claims for the week ending October 30 were in Kentucky (+2,882), Louisiana (+907), Minnesota (+885), Tennessee (+798), and New Jersey (+768), while the largest decreases were in Missouri (-3,014), Florida (-2,286), Virginia (-1,482), Oklahoma (-1,324), and Pennsylvania (-1,026).
Posted: November 10, 2021 Wednesday 08:30 AM