Tuesday , September 28 2021
Home / Calculated Risk / Weekly Initial Unemployment Claims decrease to 400,000

Weekly Initial Unemployment Claims decrease to 400,000

Summary:
The DOL reported:In the week ending July 24, the advance figure for seasonally adjusted initial claims was 400,000, a decrease of 24,000 from the previous week's revised level. The previous week's level was revised up by 5,000 from 419,000 to 424,000. The 4-week moving average was 394,500, an increase of 8,000 from the previous week's revised average. The previous week's average was revised up by 1,250 from 385,250 to 386,500.emphasis addedThis does not include the 95,166 initial claims for Pandemic Unemployment Assistance (PUA) that was down from 109,868 the previous week.The following graph shows the 4-week moving average of weekly claims since 1971.Click on graph for larger image.The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment

Topics:
Calculated Risk considers the following as important:

This could be interesting, too:

Calculated Risk writes Tuesday: Case-Shiller House Prices, Fed Chair Powell Testimony

Tyler Durden writes Senate Republicans Vote Down Pelosi’s Debt Ceiling Bill, As Expected

Tyler Durden writes Goldman Cuts China’s Q3 GDP Growth To 0% As A Result Of Growing Energy Crisis

Tyler Durden writes Misguided Petition Demanding Permanent Monthly ,000 Stimulus Checks Nears Huge Milestone

The DOL reported:
In the week ending July 24, the advance figure for seasonally adjusted initial claims was 400,000, a decrease of 24,000 from the previous week's revised level. The previous week's level was revised up by 5,000 from 419,000 to 424,000. The 4-week moving average was 394,500, an increase of 8,000 from the previous week's revised average. The previous week's average was revised up by 1,250 from 385,250 to 386,500.
emphasis added
This does not include the 95,166 initial claims for Pandemic Unemployment Assistance (PUA) that was down from 109,868 the previous week.

The following graph shows the 4-week moving average of weekly claims since 1971.

Weekly Initial Unemployment Claims decrease to 400,000Click on graph for larger image.

The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims increased to 394,500.

The previous week was revised up.

Regular state continued claims increased to 3,269,000 (SA) from 3,262,000 (SA) the previous week.

Note: There are an additional 5,246,162 receiving Pandemic Unemployment Assistance (PUA) that increased from 5,133,938 the previous week (there are questions about these numbers). This is a special program for business owners, self-employed, independent contractors or gig workers not receiving other unemployment insurance.  And an additional 4,233,883 receiving Pandemic Emergency Unemployment Compensation (PEUC) down from 4,134,716.

Weekly claims were at the consensus forecast.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.