The U.S. Department of Labor is reporting that an additional 229,000 Americans (seasonally adjusted) made their initial filing for unemployment benefits during the week ending on Saturday, June 4, 2022. This is increase of 27,000 from the previous week’s unrevised level. The 4-week moving average was 215,000—an increase of 8,000 from the previous week’s revised average.
The advance number for seasonally adjusted insured unemployment (known as continuing claims) during the week ending May 28, 2022, was 1,306,000 unchanged from the previous week’s revised level. The 4-week moving average was 1,317,500—a decrease of 9,000 from the previous week’s revised average. This is the lowest level for this average since January 10, 1970, when it was 1,310,250.
The advance seasonally adjusted insured unemployment rate was 0.9% for the week ending May 28, 2022, unchanged from the previous week’s unrevised rate.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.