US Weekly Jobless Claims Increase in the Week Ending June 3rd

The US Department of Labor reported on Thursday (6-8-23) that the advance figure for seasonally adjusted initial unemployment claims was 261,000 during the week ending on Saturday, June 3rd. This is an increase of 28,000 from the previous week’s revised level of 233,000 (originally reported as 232,000). The 4-week moving average was 237,250—an increase of 7,500 from the previous week’s revised level of 229,750 (originally reported as 229,500).

The advance number for seasonally adjusted insured unemployment, known as continuing claims, during the week ending May 27th was 1,757,000. This is a decrease of 37,000 from the previous week’s revised level of 1,794,000 (originally reported as 1,795,000). The 4-week moving average was 1,784,750—a decrease of 12,500 from the previous week’s revised level of 1,797,250 (originally reported as 1,797,500).

The advance seasonally adjusted insured unemployment rate was 1.2% for the week ending May 27th, unchanged from the previous week’s unrevised rate.