US Weekly Initial Jobless Claims Increase in the Week Ending August 2
Unemployment Insurance Weekly Claims
On Thursday, the US Department of Labor reported that the advance figure for seasonally adjusted initial unemployment claims was 226,000 for the week ending Saturday, August 2. This is an increase of 7,000 from the previous week’s revised total of 219,000 (originally 218,000). The four-week moving average was 220,750—a decrease of 500 from the previous week’s revised average of 221,250 (originally 221,000).
The advance number for seasonally adjusted insured unemployment for the week ending July 26 was 1,974,000, an increase of 38,000 from the previous week’s revised total of 1,936,000 (originally 1,946,000). This is the highest level for insured unemployment since November 6, 2021, when it was 2,041,000. The four-week moving average was 1,951,750—an increase of 5,000 from the previous week’s revised average of 1,946,750 (originally 1,949,250).
The advance seasonally adjusted insured unemployment rate was 1.3% for the week ending July 26, 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.