Weekly Jobless Claims Climb in the Week Ending March 5th, 2022

The U.S. Department of Labor is reporting that an additional 227,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, March 5th, 2022. An increase of 11,000 from the previous week’s revised level. The 4-week moving average was 231,250 an increase of 500 from the previous week’s revised average.

The advance number for seasonally adjusted insured unemployment, known as continuing claims during the week ending February 26^th, 2022, was 1,494,000 an increase of 25,000 from the previous week’s revised level. The 4-week moving average was 1,506,500 a decrease of 31,250 from the previous week’s revised average. This is the lowest level for this average since March 28^th, 1970, when it was 1,483,500.

The advance seasonally adjusted insured unemployment rate was 1.1% for the week ending February 26^th, 2022, unchanged from the previous week’s unrevised rate.