US Weekly Jobless Claims Move Higher in the Week Ending June 1st

The U.S. Department of Labor reported on Thursday its advance figure for seasonally adjusted initial unemployment claims made during the week ending Saturday, June 1st was 229,000, an increase of 8,000 from the previous week’s upwardly revised level of 221,000, originally reported as 219,000. The 4-week moving average was 222,250, a decrease of 750 from the previous week’s upwardly revised average of 223,000, originally reported as 222,500.

The advance number for seasonally adjusted insured unemployment, known as continuing claims, during the week ending May 25th was 1,792,000, an increase of 2,000 from the previous week’s downwardly revised total of 1,790,000, originally reported as 1,791,000. The 4-week moving average was 1,788,750, an increase of 2,750 from the previous week’s downwardly revised level of 1,786,000, originally reported as 1,786,250.

The advanced seasonally adjusted insured unemployment rate was 1.2% for the week ending May 25th, unchanged from the previous week’s unrevised rate.