Research >> Economics
Weekly Initial Unemployment Claims decrease 11,000 to 200,000
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In the week ending May 28, the advance figure for seasonally adjusted initial claims was 200,000, a decrease of 11,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 210,000 to 211,000. The 4-week moving average was 206,500, a decrease of 500 from the previous week's revised average. The previous week's average was revised up by 250 from 206,750 to 207,000.
The advance seasonally adjusted insured unemployment rate was 0.9 percent for the week ending May 21, a decrease of 0.1 percentage point from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending May 21 was 1,309,000, a decrease of 34,000 from the previous week's revised level. This is the lowest level for insured unemployment since December 27, 1969 when it was 1,304,000. The previous week's level was revised down by 3,000 from 1,346,000 to 1,343,000. The 4-week moving average was 1,327,250, a decrease of 19,500 from the previous week's revised average. This is the lowest level for this average since January 10, 1970 when it was 1,310,250. The previous week's average was revised down by 750 from 1,347,500 to 1,346,750.
UNADJUSTED DATA
The advance number of actual initial claims under state programs, unadjusted, totaled 182,327 in the week ending May 28, a decrease of 2,921 (or -1.6 percent) from the previous week. The seasonal factors had expected an increase of 7,182 (or 3.9 percent) from the previous week. There were 430,171 initial claims in the comparable week in 2021.
The advance unadjusted insured unemployment rate was 0.9 percent during the week ending May 21, unchanged from the prior week. The advance unadjusted level of insured unemployment in state programs totaled 1,259,162, a decrease of 31,222 (or -2.4 percent) from the preceding week. The seasonal factors had expected an increase of 1,343 (or 0.1 percent) from the previous week. A year earlier the rate was 2.5 percent and the volume was 3,499,487.
The total number of continued weeks claimed for benefits in all programs for the week ending May 14 was 1,319,297, an increase of 2,113 from the previous week. There were 15,456,735 weekly claims filed for benefits in all programs in the comparable week in 2021.
No state was triggered "on" the Extended Benefits program during the week ending May 14.
Initial claims for UI benefits filed by former Federal civilian employees totaled 424 in the week ending May 21, a decrease of 7 from the prior week. There were 336 initial claims filed by newly discharged veterans, a decrease of 3 from the preceding week.
There were 6,003 continued weeks claimed filed by former Federal civilian employees the week ending May 14, a decrease of 553 from the previous week. Newly discharged veterans claiming benefits totaled 4,377, a decrease of 158 from the prior week.
The highest insured unemployment rates in the week ending May 14 were in California (2.0), New Jersey (1.9), Alaska (1.7), New York (1.4), Puerto Rico (1.4), Illinois (1.2), Massachusetts (1.2), Pennsylvania (1.2), Rhode Island (1.2), and the Virgin Islands (1.2).
The largest increases in initial claims for the week ending May 21 were in Missouri (+1,178), Georgia (+606), Mississippi (+481), Texas (+426), and North Carolina (+322), while the largest decreases were in California (-6,119), Illinois (-4,082), Kentucky (-3,578), New York (-1,450), and Michigan (-524).
Posted: June 2, 2022 Thursday 08:30 AM