Weekly Jobless Claims Remain Unchanged

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Weekly initial jobless claims remained unchanged for the week ending September 5, and continuing claims, which lag initial jobless claims by one week, increased by 93,000 for the week ending August 29.  This week’s data indicate a slow improvement in labor market that badly damaged by the COVID-19 pandemic.

The U.S. Department of Labor released the Unemployment Insurance Weekly Claims Report for the week ending September 5. The number of initial jobless claims was at a seasonally adjusted level of 884,000, unchanged from the previous week’s revised level. Weekly new claims brought the 25-week’s total to 60.2 million. The four-week moving average decreased to 970,750, from a revised average of 992,500 in the previous week.

Meanwhile, the number for seasonally adjusted insured unemployment (in regular state programs), known as continuing claims, increased by 93,000 to a seasonally adjusted level of 13,385,000 in the week ending August 29. It is the first increase after five consecutive decreases. The four-week moving average declined to 13,982,000 from the previous week’s revised average of 14,505,750. The seasonally adjusted insured unemployment rate increased by 0.1 percentage point to 9.2% for the week ending August 29. The previous week’s rate was unrevised.

The U.S. Department of Labor also released the advanced number of actual initial claims under state programs without seasonal adjustments. The unadjusted number of advanced initial claims totaled 857,148 in the week ending September 5, an increase of 20,140 from the previous week.

The chart below presents the top 10 states ranked by the number of advanced initial claims for the week ending September 5. Like the previous week, California, Texas and New York had the most advanced initial claims. California led the way with 237,516 initial claims, followed by Texas with 66,330 initial claims and New York with 65,273 initial claims. Meanwhile, South Dakota, Vermont and Wyoming had the least advanced initial claims across all the states.

Compared to the previous week, California, Texas and Louisiana had the largest increases in advanced initial claims for the week ending September 5. California reported an increase of 17,953 advanced initial claims. Texas increased by 9,657 and Louisiana increased by 7,199. Florida (-9,049), Kentucky (-7,486), and Michigan (-5,609) had the largest decreases in advanced initial claims.



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