US Weekly Jobless Claims Increase in the Week Ending July 1st

The US Department of Labor reported on Thursday (7-6-23) that the advance figure for seasonally adjusted initial unemployment claims was 248,000 during the week ending on Saturday, July 30th. This is an increase of 12,000 from the previous week’s revised level of 236,000 (originally reported as 239,000). The 4-week moving average was 253,250—a decrease of 3,500 from the previous week’s revised level of 256,750 (originally reported as 257,500).

The advance number for seasonally adjusted insured unemployment, known as continuing claims, during the week ending June 24th was 1,720,000. This is a decrease of 13,000 from the previous week’s revised level of 1,733,000 (originally reported as 1,742,000). The 4-week moving average was 1,746,500—a decrease of 8,750 from the previous week’s revised level of 1,755,250 (originally reported as 1,757,250).

The advance seasonally adjusted insured unemployment rate was 1.2% for the week ending June 24th, unchanged from the previous week’s unrevised rate.