US Jobless Claims Increased More Than Expected: 412,000 Americans Filed, 360, Predicted

CITY OF WASHINGTON, D.C. (June 17, 2021)–today the U.S. Department of Labor (DOL)  released this weeks jobs report.  According to the DOL, the week ending June 12, the advance figure for seasonally adjusted initial claims was 412,000, an increase of 37,000 from the previous week’s revised level. The previous week’s level was revised down by 1,000 from 376,000 to 375,000. The 4-week moving average was 395,000, a decrease of 8,000 from the previous week’s revised average. This is the lowest level for this average since March 14, 2020 when it was 225,500. The previous week’s average was revised up by 500 from 402,500 to 403,000.

The advance seasonally adjusted insured unemployment rate was 2.5 percent for the week ending June 5, unchanged
from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending June 5 was 3,518,000, an increase of 1,000 from the previous week’s revised level. The previous week’s
level was revised up 18,000 from 3,499,000 to 3,517,000. The 4-week moving average was 3,603,750, a decrease of
55,000 from the previous week’s revised average. This is the lowest level for this average since March 21, 2020 when it
was 2,071,750. The previous week’s average was revised up by 7,500 from 3,651,250 to 3,658,750.

May be an image of text that says 'Seasonally Adjusted Initial Claims June 13, 2020 June 12, 2021 Moving Average 1.8 1.6 1.4 1.2 1.0 0.8 0.6 0.4 0.2 -Weekly IC 0.0 25.0 So Seasonally Adjusted Insured Unemployment June 6, 2020 June 5, 2021 20.0 15.0 Moving Average -Weekly IU 10.0 5.0 0.0'

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 402,352 in the week ending June
12, an increase of 37,174 (or 10.2 percent) from the previous week. The seasonal factors had expected a decrease of 432 (or -0.1 percent) from the previous week. There were 1,457,102 initial claims in the comparable week in 2020. In
addition, for the week ending June 12, 52 states reported 118,025 initial claims for Pandemic Unemployment Assistance.

The advance unadjusted insured unemployment rate was 2.4 percent during the week ending June 5, unchanged from the prior week. The advance unadjusted level of insured unemployment in state programs totaled 3,288,318, a decrease of 45,145 (or -1.4 percent) from the preceding week. The seasonal factors had expected a decrease of 46,651 (or -1.4 percent) from the previous week. A year earlier the rate was 12.8 percent and the volume was 18,687,253.

The advance number of actual initial claims under state programs, unadjusted, totaled 402,352 in the week ending June
12, an increase of 37,174 (or 10.2 percent) from the previous week. The seasonal factors had expected a decrease of 432 (or -0.1 percent) from the previous week. There were 1,457,102 initial claims in the comparable week in 2020. In
addition, for the week ending June 12, 52 states reported 118,025 initial claims for Pandemic Unemployment Assistance.

The advance unadjusted insured unemployment rate was 2.4 percent during the week ending June 5, unchanged from the prior week. The advance unadjusted level of insured unemployment in state programs totaled 3,288,318, a decrease of 45,145 (or -1.4 percent) from the preceding week. The seasonal factors had expected a decrease of 46,651 (or -1.4 percent) from the previous week. A year earlier the rate was 12.8 percent and the volume was 18,687,253. 

May be an image of text that says '7.0 Not Seasonally Adjusted Initial Claims June 15,2019 June 12, 2021 6.0 Mnnus 4.0 5.0 3.0 -Prior Year Latest 52 weeks 2.0 1.0 0.0 25.0 20.0 Not Seasonally Adjusted Insured Unemployment June 8, 2019- June 5, 2021 15.0 -Prior Year Latest 52 weeks 10.0 5.0 0.0'

The total number of continued weeks claimed for benefits in all programs for the week ending May 29 was 14,828,950, a decrease of 559,873 from the previous week. There were 30,170,225 weekly claims filed for benefits in all programs in
the comparable week in 2020.

During the week ending May 29, Extended Benefits were available in the following 12 states: Alaska, California,
Colorado, Connecticut, District of Columbia, Illinois, Massachusetts, Nevada, New Jersey, New York, Rhode Island, and
Texas.

Initial claims for UI benefits filed by former Federal civilian employees totaled 613 in the week ending June 5, a
decrease of 200 from the prior week. There were 428 initial claims filed by newly discharged veterans, a decrease of 30
from the preceding week.

There were 11,040 continued weeks claimed filed by former Federal civilian employees the week ending May 29, a
decrease of 710 from the previous week. Newly discharged veterans claiming benefits totaled 6,349, a decrease of 980
from the prior week.

During the week ending May 29, 51 states reported 6,120,596 continued weekly claims for Pandemic Unemployment
Assistance benefits and 51 states reported 5,157,445 continued claims for Pandemic Emergency Unemployment
Compensation benefits.

The highest insured unemployment rates in the week ending May 29 were in Nevada (4.6), Rhode Island (4.5), Alaska
(3.9), Pennsylvania (3.9), California (3.6), Connecticut (3.6), New York (3.6), Illinois (3.5), Puerto Rico (3.5), and
District of Columbia (3.3).

The largest increases in initial claims for the week ending June 5 were in Illinois (+5,715), Ohio (+2,296), Delaware
(+1,720), and Tennessee (+1,159), while the largest decreases were in Pennsylvania (-23,633), California (-19,120),
Oklahoma (-3,788), Texas (-3,299), and New Jersey (-2,985).

Read the entire report here.

Source: US Department of Labor

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