US Weekly Initial Jobless Claims Increase in the Week Ending June 7

On Thursday, the US Department of Labor reported that the advance figure for seasonally adjusted initial unemployment claims was 248,000 during the week ending Saturday, June 7. This is unchanged from the previous week’s revised total of 248,000 (originally 247,000). The 4-week moving average was 240,250—an increase of 5,000 from the previous week’s revised average of 235,250 (originally 235,000). This is the highest level for the average since August 26, 2023.

The advance number for seasonally adjusted insured unemployment during the week ending May 31 was 1,956,000. This is an increase of 54,000 from the previous week’s revised total of 1,902,000 (originally 1,904,000). This is the highest level for insured unemployment since November 13, 2021, when it was 1,970,000. The 4-week moving average was 1,914,500—an increase of 19,750 from the previous week’s revised average of 1,894,750 (originally 1,895,250). This is the highest level for the average since November 27, 2021, when it was 1,923,500.

The advance seasonally adjusted insured unemployment rate was 1.3% for the week ending May 31, an increase of 0.1 percentage point from the previous week’s unrevised rate.