U.S. Initial Jobless Claims Fall to 216K for a Fourth Week

Tiger Newspress2023-09-07

In the week ending September 2, the advance figure for seasonally adjusted initial claims was 216,000, a decrease of 13,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 228,000 to 229,000. The 4-week moving average was 229,250, a decrease of 8,500 from the previous week's revised average. The previous week's average was revised up by 250 from 237,500 to 237,750.

The advance seasonally adjusted insured unemployment rate was 1.1 percent for the week ending August 26, 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 August 26 was 1,679,000, a decrease of 40,000 from the previous week's revised level. The previous week's level was revised down by 6,000 from 1,725,000 to 1,719,000. The 4-week moving average was 1,701,500, a decrease of 1,250 from the previous week's revised average. The previous week's average was revised down by 1,500 from 1,704,250 to 1,702,750.

The advance number of actual initial claims under state programs, unadjusted, totaled 190,190 in the week ending September 2, a decrease of 3,240 (or -1.7 percent) from the previous week. The seasonal factors had expected an increase of 8,480 (or 4.4 percent) from the previous week. There were 172,835 initial claims in the comparable week in 2022.

The advance unadjusted insured unemployment rate was 1.2 percent during the week ending August 26, unchanged from the prior week. The advance unadjusted level of insured unemployment in state programs totaled 1,743,129, a decrease of 46,742 (or -2.6 percent) from the preceding week. The seasonal factors had expected a decrease of 5,158 (or -0.3 percent) from the previous week. A year earlier the rate was 1.0 percent and the volume was 1,365,751.

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