US Jobless Claims Rise Slightly, Still Near Lowest Since May

[mahatmakanejeeves]

Economics
Jobs

US Jobless Claims Rise Slightly, Still Near Lowest Since May

By Augusta Saraiva
September 22, 2022 at 8:35 AM EDT | Updated on September 22, 2022 at 8:40 AM EDT

@gutavsaraiva

Applications for US unemployment insurance rose slightly from an almost four-month low, suggesting demand for workers remains healthy despite an increasingly uncertain economic outlook.

Initial unemployment claims increased by 5,000 to 213,000 in the week ended Sept. 17, after a downward revision in the prior week, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for 217,000 new applications.

The four-week moving average, which smooths out volatility from week to week, fell to 216,750. ... Continuing claims dropped to 1.38 million in the week ended Sept. 10.

Jobless claims have generally been dropping as employers try to fill millions of open positions while retaining the workers they already have. However, hiring is expected to weaken as the Federal Reserve continues to raise interest rates, with employment being a key sacrifice in the central bank’s effort to bring inflation down.

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[mahatmakanejeeves]

1. From the source:

https://oui.doleta.gov/press/2022/092222.pdf

https://www.dol.gov/ui/data.pdf

News Release

Connect with DOL at
https://blog.dol.gov

TRANSMISSION OF MATERIALS IN THIS RELEASE IS EMBARGOED UNTIL
8:30 A.M. (Eastern) Thursday, September 22, 2022

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS

SEASONALLY ADJUSTED DATA

In the week ending September 17, the advance figure for seasonally adjusted initial claims was 213,000, an increase of 5,000 from the previous week's revised level. The previous week's level was revised down by 5,000 from 213,000 to 208,000. The 4-week moving average was 216,750, a decrease of 6,000 from the previous week's revised average. The previous week's average was revised down by 1,250 from 224,000 to 222,750.

The advance seasonally adjusted insured unemployment rate was 1.0 percent for the week ending September 10, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending September 10 was 1,379,000, a decrease of 22,000 from the previous week's revised level. The previous week's level was revised down by 2,000 from 1,403,000 to 1,401,000. The 4-week moving average was 1,404,750, a decrease of 8,250 from the previous week's revised average. The previous week's average was revised down by 250 from 1,413,250 to 1,413,000.

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UNADJUSTED DATA

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The total number of continued weeks claimed for benefits in all programs for the week ending September 3 was 1,295,702, a decrease of 96,414 from the previous week. There were 11,250,317 weekly claims filed for benefits in all programs in the comparable week in 2021.

{snip the rest of the ten-page news release, until the end}

Weekly Claims Archives
Weekly Claims Data

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U.S. Department of Labor
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Release Number: USDL 22-1908-NAT

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