US Weekly Jobless Claims Increase for the Week Ending May 6th
Unemployment Insurance Weekly Claims
The US Department of Labor is reporting that the advance figure for seasonally adjusted initial unemployment claims was 264,000 during the week ending on Saturday, May 6th. This is an increase of 22,000 from the previous week’s unrevised level of 242,000. It is also the highest level since October 30, 2021. The 4-week moving average was 245,230—an increase of 6,000 from the previous week’s unrevised level of 239,250. This is the highest level for this average since November 20, 2021, when it was 249,250.
The advance number for seasonally adjusted insured unemployment, known as continuing claims, during the week ending April 29th was 1,813,000. This is an increase of 12,000 from the previous week’s revised level of 1,801,000 (originally reported as 1,805,000). The 4-week moving average was 1,829,500—an increase of 2,250 from the previous week’s revised level of 1,827,250 (originally reported as 1,828,250).
The advance seasonally adjusted insured unemployment rate was 1.2% for the week ending April 29th, unchanged from the previous week’s unrevised rate.
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