US Weekly Jobless Claims Increase in the Week Ending August 5th

The US Department of Labor reported on Thursday (8-10-23) that the advance figure for seasonally adjusted initial unemployment claims was 248,000 during the week ending Saturday, August 5th. This is an increase of 21,000 from the previous week’s unrevised level of 227,000. The 4-week moving average was 231,000—an increase of 2,750 from the previous week’s unrevised average of 228,250.

The advance number for seasonally adjusted insured unemployment, known as continuing claims, during the week ending July 29th was 1,684,000. This is a decrease of 8,000 from the previous week’s revised level of 1,692,000 (originally reported as 1,700,000). The 4-week moving average was 1,701,000—a decrease of 9,250 from the previous week’s revised level of 1,710,250 (originally reported as 1,712,250).

The advance seasonally adjusted insured unemployment rate was 1.1% for the week ending July 29th, unchanged from the previous week’s unrevised rate.