Research >> Economics
Weekly Initial Unemployment Claims increase 21,000 to 211,000
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In the week ending March 4, the advance figure for seasonally adjusted initial claims was 211,000, an increase of 21,000 from the previous week's unrevised level of 190,000. The 4-week moving average was 197,000, an increase of 4,000 from the previous week's unrevised average of 193,000.
The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending February 25, an increase of 0.1 percentage point from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending February 25 was 1,718,000, an increase of 69,000 from the previous week's revised level. The previous week's level was revised down by 6,000 from 1,655,000 to 1,649,000. The 4-week moving average was 1,679,500, an increase of 9,500 from the previous week's revised average. The previous week's average was revised down by 1,500 from 1,671,500 to 1,670,000.
UNADJUSTED DATA
The advance number of actual initial claims under state programs, unadjusted, totaled 237,513 in the week ending March 4, an increase of 35,357 (or 17.5 percent) from the previous week. The seasonal factors had expected an increase of 11,791 (or 5.8 percent) from the previous week. There were 219,875 initial claims in the comparable week in 2022.
The advance unadjusted insured unemployment rate was 1.4 percent during the week ending February 25, an increase of 0.1 percentage point from the prior week. The advance unadjusted level of insured unemployment in state programs totaled 1,975,193, an increase of 83,404 (or 4.4 percent) from the preceding week. The seasonal factors had expected an increase of 4,948 (or 0.3 percent) from the previous week. A year earlier the rate was 1.4 percent and the volume was 1,912,171.
The total number of continued weeks claimed for benefits in all programs for the week ending February 18 was 1,920,603, a decrease of 38,441 from the previous week. There were 1,909,028 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 February 18.
Initial claims for UI benefits filed by former Federal civilian employees totaled 347 in the week ending February 25, a decrease of 43 from the prior week. There were 269 initial claims filed by newly discharged veterans, a decrease of 44 from the preceding week.
There were 7,078 continued weeks claimed filed by former Federal civilian employees the week ending February 18, a decrease of 762 from the previous week. Newly discharged veterans claiming benefits totaled 4,384, an increase of 212 from the prior week.
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The highest insured unemployment rates in the week ending February 18 were in New Jersey (2.7), Rhode Island (2.5), Massachusetts (2.3), Minnesota (2.3), California (2.2), Alaska (2.1), Illinois (2.0), Montana (2.0), New York (1.9), Connecticut (1.8), Pennsylvania (1.8), and Puerto Rico (1.8).
The largest increases in initial claims for the week ending February 25 were in Massachusetts (+4,438), Rhode Island (+1,210), New Jersey (+742), Arkansas (+619), and District of Columbia (+494), while the largest decreases were in Kentucky (-6,164), California (-2,844), Texas (-1,426), Ohio (-1,274), and Michigan (-1,020).
Posted: March 9, 2023 Thursday 08:30 AM