Weekly Jobless Claims Show No Sign of Weakness
The Labor Department (DOL) reported initial jobless claims declined 6,000 to a seasonally adjusted 216,000 for the week ending June 15, beating the consensus forecast. The 4-week moving average ticked slightly higher by 1,000 from the previous week’s unrevised average of 217,750 to 218,750.
|Indicator||Prior||Consensus Forecast||Forecast Range||Actual|
|Initial Jobless Claims||222 K||220 K||215 K to 225 K||216 K|
The advance seasonally adjusted insured unemployment rate remained unchanged at a very low 1.2% for the week ending June 8. The advance number for seasonally adjusted insured unemployment for the week ending June 8 declined 37,000 to 1,662,000.
No state was triggered “on” the Extended Benefits program during the week ending June 1.
The highest insured unemployment rates in the week ending June 1 were in Alaska (2.1), California (1.9), New Jersey (1.9), Connecticut (1.7), Puerto Rico (1.7), Pennsylvania (1.5), Illinois (1.4), Massachusetts (1.4), and Rhode Island (1.4).
The largest increases in initial claims for the week ending June 8 were in California (+6,507), Pennsylvania (+5,374), Florida (+2,610), Texas (+2,413), and Illinois (+2,032), while the largest decreases were in Tennessee (-976), Missouri (-322), Nevada (-241), New Mexico (-240), and Oklahoma (-211).