For the week ending July 21, initial jobless claims came in at a seasonally adjusted 217,000, a less-than-expected increase of 9,000 from the previous week. That’s slightly less than the consensus forecast of +11,000, and just off a multi-decade low (December 1969).
The 4-week moving average was 218,000, a decrease of 2,750. The advance seasonally adjusted insured unemployment rate remained unchanged at a very low 1.2% for the week ending July 14.
The advance number for seasonally adjusted insured unemployment during the week ending July 14 was 1,745,000, a decrease of 8,000. The 4-week moving average was 1,745,750, an increase of 9,500 from the previous week’s revised average.
No state was triggered “on” the Extended Benefits program during the week ending July 7.
The highest insured unemployment rates in the week ending July 7 were in New Jersey (2.5), Connecticut (2.3), Puerto Rico (2.2), Rhode Island (2.1), Alaska (2.0), Pennsylvania (2.0), California (1.9), the Virgin Islands (1.9), Illinois (1.6), and New York (1.6).
The largest increases in initial claims for the week ending July 14 were in California (+6,345), Georgia (+4,018), Alabama (+2,775), South Carolina (+1,237), and Minnesota (+626), while the largest decreases were in New York (-9,792), Michigan (-9,263), New Jersey (-4,752), Ohio (-3,420), and Kentucky (-2,302).