Research >> Economics
Weekly Initial Unemployment Claims decrease 8,000 to 210,000
|
In the week ending May 21, the advance figure for seasonally adjusted initial claims was 210,000, a decrease of 8,000 from the previous week's unrevised level of 218,000. The 4-week moving average was 206,750, an increase of 7,250 from the previous week's unrevised average of 199,500.
The advance seasonally adjusted insured unemployment rate was 1.0 percent for the week ending May 14, 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 May 14 was 1,346,000, an increase of 31,000 from the previous week's revised level. The previous week's level was revised down by 2,000 from 1,317,000 to 1,315,000. The 4-week moving average was 1,347,500, a decrease of 14,250 from the previous week's revised average. This is the lowest level for this average since January 17, 1970 when it was 1,340,000. The previous week's average was revised down by 500 from 1,362,250 to 1,361,750.
UNADJUSTED DATA
The advance number of actual initial claims under state programs, unadjusted, totaled 183,927 in the week ending May 21, a decrease of 14,534 (or -7.3 percent) from the previous week. The seasonal factors had expected a decrease of 7,616 (or -3.8 percent) from the previous week. There were 416,310 initial claims in the comparable week in 2021.
The advance unadjusted insured unemployment rate was 0.9 percent during the week ending May 14, unchanged from the prior week. The advance unadjusted level of insured unemployment in state programs totaled 1,293,442, an increase of 9,992 (or 0.8 percent) from the preceding week. The seasonal factors had expected a decrease of 19,725 (or -1.5 percent) from the previous week. A year earlier the rate was 2.5 percent and the volume was 3,502,467.
The total number of continued weeks claimed for benefits in all programs for the week ending May 7 was 1,317,178, a decrease of 54,282 from the previous week. There were 15,797,261 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 7.
Initial claims for UI benefits filed by former Federal civilian employees totaled 431 in the week ending May 14, a decrease of 42 from the prior week. There were 339 initial claims filed by newly discharged veterans, a decrease of 50 from the preceding week.
There were 6,556 continued weeks claimed filed by former Federal civilian employees the week ending May 7, an increase of 10 from the previous week. Newly discharged veterans claiming benefits totaled 4,539, an increase of 40 from the prior week.
The highest insured unemployment rates in the week ending May 7 were in California (2.0), New Jersey (1.9), Alaska (1.7), New York (1.4), Puerto Rico (1.4), Massachusetts (1.3), Rhode Island (1.3), Illinois (1.2), Minnesota (1.2), Pennsylvania (1.2), and the Virgin Islands (1.2).
The largest increases in initial claims for the week ending May 14 were in Kentucky (+6,712), California (+1,968), Illinois (+1,742), Ohio (+1,189), and Florida (+629), while the largest decreases were in Michigan (-384), Georgia (-325), Colorado (-301), Arizona (-278), and District of Columbia (-251).
Posted: May 26, 2022 Thursday 08:30 AM