Research >> Economics
Weekly Initial Unemployment Claims increase 1,000 to 203,000
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In the week ending May 7, the advance figure for seasonally adjusted initial claims was 203,000, an increase of 1,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 200,000 to 202,000. The 4-week moving average was 192,750, an increase of 4,250 from the previous week's revised average. The previous week's average was revised up by 500 from 188,000 to 188,500.
The advance seasonally adjusted insured unemployment rate was 1.0 percent for the week ending April 30, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending April 30 was 1,343,000, a decrease of 44,000 from the previous week's revised level. This is the lowest level for insured unemployment since January 3, 1970 when it was 1,332,000. The previous week's level was revised up 3,000 from 1,384,000 to 1,387,000. The 4-week moving average was 1,385,000, a decrease of 32,750 from the previous week's revised average. This is the lowest level for this average since January 31, 1970 when it was 1,374,250. The previous week's average was revised up by 750 from 1,417,000 to 1,417,750.
UNADJUSTED DATA
The advance number of actual initial claims under state programs, unadjusted, totaled 191,803 in the week ending May 7, a decrease of 6,554 (or -3.3 percent) from the previous week. The seasonal factors had expected a decrease of 8,071 (or -4.1 percent) from the previous week. There were 488,815 initial claims in the comparable week in 2021.
The advance unadjusted insured unemployment rate was 1.0 percent during the week ending April 30, unchanged from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 1,335,108, a decrease of 70,837 (or -5.0 percent) from the preceding week. The seasonal factors had expected a decrease of 27,731 (or -2.0 percent) from the previous week. A year earlier the rate was 2.6 percent and the volume was 3,688,043.
The total number of people claiming benefits in all programs for the week ending April 23 was 1,440,324, a decrease of 38,030 from the previous week. There were 16,848,931 persons claiming benefits in all programs in the comparable week in 2021.
No states were triggered "on" to the Extended Benefits program during the week ending April 23.
Initial claims for UI benefits filed by former Federal civilian employees totaled 439 in the week ending April 30, a decrease of 50 from the prior week. There were 378 initial claims filed by newly discharged veterans, a decrease of 13 from the preceding week.
There were 7,163 former Federal civilian employees claiming UI benefits for the week ending April 23, a decrease of 170 from the previous week. Newly discharged veterans claiming benefits totaled 4,388, an increase of 82 from the prior week.
The highest insured unemployment rates in the week ending April 23 were in California (2.1), New Jersey (2.1), Alaska (1.9), Rhode Island (1.8), New York (1.7), Puerto Rico (1.6), Massachusetts (1.5), Minnesota (1.5), Pennsylvania (1.4), Connecticut (1.3), Illinois (1.3).
The largest increases in initial claims for the week ending April 30 were in New York (+7,329), Illinois (+3,140), Kentucky (+1,152), Michigan (+1,092), and New Hampshire (+469), while the largest decreases were in Massachusetts (-3,029), California (-2,816), New Jersey (-2,466), Connecticut (-2,319), and Ohio (-2,018).
Posted: May 12, 2022 Thursday 08:30 AM