Research >> Economics
Weekly Initial Unemployment Claims decrease 20,000 to 192,000
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In the week ending March 11, the advance figure for seasonally adjusted initial claims was 192,000, a decrease of 20,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 211,000 to 212,000. The 4-week moving average was 196,500, a decrease of 750 from the previous week's revised average. The previous week's average was revised up by 250 from 197,000 to 197,250.
The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending March 4, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending March 4 was 1,684,000, a decrease of 29,000 from the previous week's revised level. The previous week's level was revised down by 5,000 from 1,718,000 to 1,713,000. The 4-week moving average was 1,676,500, a decrease of 1,750 from the previous week's revised average. The previous week's average was revised down by 1,250 from 1,679,500 to 1,678,250.
UNADJUSTED DATA
The advance number of actual initial claims under state programs, unadjusted, totaled 217,444 in the week ending March 11, a decrease of 21,396 (or -9.0 percent) from the previous week. The seasonal factors had expected an increase of 1,911 (or 0.8 percent) from the previous week. There were 203,911 initial claims in the comparable week in 2022.
The advance unadjusted insured unemployment rate was 1.3 percent during the week ending March 4, a decrease of 0.1 percentage point from the prior week. The advance unadjusted level of insured unemployment in state programs totaled 1,914,943, a decrease of 55,075 (or -2.8 percent) from the preceding week. The seasonal factors had expected a decrease of 22,270 (or -1.1 percent) from the previous week. A year earlier the rate was 1.3 percent and the volume was 1,804,315.
The total number of continued weeks claimed for benefits in all programs for the week ending February 25 was 2,000,239, an increase of 79,630 from the previous week. There were 1,968,546 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 25.
Initial claims for UI benefits filed by former Federal civilian employees totaled 401 in the week ending March 4, an increase of 54 from the prior week. There were 384 initial claims filed by newly discharged veterans, an increase of 115 from the preceding week.
There were 6,962 continued weeks claimed filed by former Federal civilian employees the week ending February 25, a decrease of 116 from the previous week. Newly discharged veterans claiming benefits totaled 4,229, a decrease of 155 from the prior week.
The highest insured unemployment rates in the week ending February 25 were in Rhode Island (2.9), New Jersey (2.7), Massachusetts (2.5), California (2.4), Minnesota (2.4), Montana (2.1), New York (2.1), Alaska (2.0), Connecticut (2.0), and Illinois (2.0).
The largest increases in initial claims for the week ending March 4 were in New York (+16,244), California (+9,918), Kentucky (+2,789), Oregon (+1,276), and Ohio (+1,209), while the largest decreases were in Rhode Island (-1,687), Massachusetts (-1,134), District of Columbia (-937), Illinois (-753), and Florida (-428).
Posted: March 16, 2023 Thursday 08:30 AM