Research >> Economics
Weekly Initial Unemployment Claims Increase 13,000 to 215,000
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In the week ending February 24, the advance figure for seasonally adjusted initial claims was 215,000, an increase of
13,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 201,000 to
202,000. The 4-week moving average was 212,500, a decrease of 3,000 from the previous week's revised average. The
previous week's average was revised up by 250 from 215,250 to 215,500.
The advance seasonally adjusted insured unemployment rate was 1.3 percent for the week ending February 17, 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 17 was 1,905,000, an increase of 45,000 from the previous
week's revised level. The previous week's level was revised down by 2,000 from 1,862,000 to 1,860,000. The 4-week
moving average was 1,879,750, an increase of 2,750 from the previous week's revised average. This is the highest level
for this average since December 11, 2021 when it was 1,888,250. The previous week's average was revised down by 500
from 1,877,500 to 1,877,000.
UNADJUSTED DATA
The advance number of actual initial claims under state programs, unadjusted, totaled 193,988 in the week ending
February 24, a decrease of 5,349 (or -2.7 percent) from the previous week. The seasonal factors had expected a decrease
of 16,965 (or -8.5 percent) from the previous week. There were 202,156 initial claims in the comparable week in 2023.
The advance unadjusted insured unemployment rate was 1.4 percent during the week ending February 17, unchanged
from the prior week. The advance unadjusted level of insured unemployment in state programs totaled 2,098,851, an
increase of 6,057 (or 0.3 percent) from the preceding week. The seasonal factors had expected a decrease of 42,786 (or -
2.0 percent) from the previous week. A year earlier the rate was 1.3 percent and the volume was 1,891,796.
The total number of continued weeks claimed for benefits in all programs for the week ending February 10 was
2,122,822, a decrease of 48,391 from the previous week. There were 1,959,045 weekly claims filed for benefits in all
programs in the comparable week in 2023.
No state was triggered "on" the Extended Benefits program during the week ending February 10.
Initial claims for UI benefits filed by former Federal civilian employees totaled 337 in the week ending February 17, a
decrease of 45 from the prior week. There were 361 initial claims filed by newly discharged veterans, a decrease of 31
from the preceding week.
There were 6,819 continued weeks claimed filed by former Federal civilian employees the week ending February 10, a
decrease of 74 from the previous week. Newly discharged veterans claiming benefits totaled 4,014, a decrease of 363
from the prior week.
The highest insured unemployment rates in the week ending February 10 were in New Jersey (2.8), Rhode Island (2.7),
Minnesota (2.5), Massachusetts (2.4), California (2.3), Illinois (2.3), Montana (2.1), Alaska (2.0), New York (2.0),
Pennsylvania (2.0), and Washington (2.0).
The largest increases in initial claims for the week ending February 17 were in Oklahoma (+1,802), Ohio (+915),
Tennessee (+490), Iowa (+387), and District of Columbia (+198), while the largest decreases were in California (-8,980),
Kentucky (-3,671), Michigan (-1,905), New York (-1,643), and Illinois (-1,431).
Posted: February 29, 2024 Thursday 08:30 AM