US Weekly Jobless Claims Decline in the Week Ending July 22nd

The US Department of Labor reported on Thursday (7-27-23) that the advance figure for seasonally adjusted initial unemployment claims was 221,000 during the week ending on Saturday, July 22nd. This is a decrease of 7,000 from the previous week’s unrevised level of 228,000. The 4-week moving average was 233,750—a decrease of 3,750 from the previous week’s unrevised average of 237,500.

The advance number for seasonally adjusted insured unemployment, known as continuing claims, during the week ending July 15th was 1,690,000. This is a decrease of 59,000 from the previous week’s revised level of 1,749,000 (originally reported as 1,754,000). The 4-week moving average was 1,719,500—a decrease of 10,750 from the previous week’s revised level of 1,730,250 (originally reported as 1,731,500).

The advance seasonally adjusted insured unemployment rate was 1.1% for the week ending July 15th, a decrease of 0.1% from the previous week’s unrevised rate.