Research >> Economics
Weekly Initial Unemployment Claims Increase 20,000 to 294,000
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In the week ending May 7, the advance figure for seasonally adjusted initial claims was 294,000, an increase of 20,000 from the previous week's unrevised level of 274,000. This is the highest level for initial claims since February 28, 2015 when it was 310,000. The 4-week moving average was 268,250, an increase of 10,250 from the previous week's unrevised average of 258,000. There were no special factors impacting this week's initial claims. This marks 62 consecutive weeks of initial claims below 300,000, the longest streak since 1973.
The advance seasonally adjusted insured unemployment rate was 1.6 percent for the week ending April 30, unchanged from the previous week's revised rate. The previous week's rate was revised up by 0.1 from 1.5 to 1.6 percent. The advance number for seasonally adjusted insured unemployment during the week ending April 30 was 2,161,000, an increase of 37,000 from the previous week's revised level. This is the highest level for insured unemployment since April 2, 2016 when it was 2,176,000. The previous week's level was revised up 3,000 from 2,121,000 to 2,124,000. The 4-week moving average was 2,137,250, a decrease of 3,750 from the previous week's revised average. This is the lowest level for this average since November 11, 2000 when it was 2,119,750. The previous week's average was revised up by 750 from 2,140,250 to 2,141,000.
Posted: May 12, 2016 Thursday 08:30 AM