Weekly Jobless Claims Continued to Decline in the Week Ending July 10, 2021

The U.S. Department of Labor is reporting that an additional 360,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, July 10, 2021 — a decrease of 26,000 from the previous week’s revised level and the lowest level for initial claims since March 14, 2020. The 4-week moving average was 382,500, a decrease of 14,500 from the previous week’s revised average. This is the lowest level for this average since March 14, 2020, when it was 225,500. The advance number for seasonally adjusted insured unemployment, known as continuing claims during the week ending July 3, 2021 was 3,241,000 — a decrease of 126,000 from the previous week’s revised level. This is the lowest level for insured unemployment since March 21, 2020, when it was 3,094,000. The 4-week moving average was 3,376,000 — a decrease of 71,750 from the previous week’s revised average. This is the lowest level for this average since March 21, 2020, when it was 2,071,750. The advance seasonally adjusted insured unemployment rate was 2.4% for the week ending July 3, 2021, unchanged from the previous week’s unrevised rate.