US Weekly Initial Jobless Claims Drop in the Week Ending August 3rd
Unemployment Insurance Weekly Claims.
On Thursday, the US Department of Labor reported that the advance figure for seasonally adjusted initial unemployment claims was 233,000 during the week ending Saturday, August 3rd. This is a decrease of 17,000 from the previous week’s revised level of 250,000 (originally 249,000). The 4-week moving average was 240,750—an increase of 2,500 from the previous week’s revised level of 238,250 (originally 238,000).
The advance number for seasonally adjusted insured unemployment, known as continuing claims, during the week ending July 27th was 1,875,000. This is an increase of 6,000 from the previous week’s revised total of 1,869,000 (originally 1,877,000). This is the highest level for insured unemployment since November 27th, 2021, when it was 1,878,000. The 4-week moving average was 1,862,000—an increase of 7,000 from the previous week’s revised average of 1,855,00 (originally 1,857,000). This is the highest level since November 27th, 2021, when it was 1,928,000.
The advanced seasonally adjusted insured unemployment rate was 1.2% for the week ending July 27th, unchanged from the previous week’s unrevised rate.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.