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Saturday, June 15, 2024
HomeNewsEconomyJobless Claims Unchanged at 218K for Week Ending June 1

Jobless Claims Unchanged at 218K for Week Ending June 1

U.S. initial jobless claims graph on a tablet screen. (Photo: AdobeStock)

4-Week Average Declines to 215K

Mr Assange, sporting a long white beard and wagging a finger, shouted "UK must resist" as he was carried out in handcuffs by seven men and hauled into a police van.
U.S. jobless claims graph on a tablet screen. (Photo: AdobeStock)

The Labor Department said initial jobless claims came in at a seasonally adjusted 218,000, unchanged from the prior week and slightly higher than the consensus forecast.

The 4-week moving average was 215,000, a decrease of 2,500 from the previous week’s revised average.

IndicatorPriorPrior RevisedConsensus ForecastForecast RangeActual
Initial Jobless Claims215 K218 K215 K212 K to 216 K218 K
4-Week Average216.75 K217.5 K215 K

No state was triggered “on” the Extended Benefits program during the week ending May 18.

In lagging data, the advance seasonally adjusted insured unemployment rate was unchanged at a very low 1.2% for the week ending May 25.

The advance number for seasonally adjusted insured unemployment for the week ending May 25 came in at 1,682,000, an increase of 20,000. The 4 week moving average was 1,672,750, a decrease of 1,000.

The highest insured unemployment rates in the week ending May 18 were in Alaska (2.2), California (1.9), New Jersey (1.9), Connecticut (1.7), Puerto Rico (1.7), Pennsylvania (1.5), Rhode Island (1.5), Virgin Islands (1.5), Illinois (1.4), Massachusetts (1.4), and Washington (1.4).

The largest increases in initial claims for the week ending May 25 were in Michigan (+2,537), Missouri (+1,046), New York (+875), New Jersey (+874), and California (+847), while the largest decreases were in Ohio (-3,273), Pennsylvania (-2,067), Florida (-250), Arizona (-151), and Indiana (-104).

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PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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