Weekly Jobless Claims Creep Higher – in the Week Ending 2nd July 2022

The U.S. Department of Labor is reporting that seasonally adjusted an additional 235,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, 2^nd July 2022. An increase of 4,000 from the previous week’s unrevised level of 231,000. The 4-week moving average was 232,500 an increase of 750 from the previous week’s unrevised average of 231,750.

The advance number for seasonally adjusted insured unemployment, known as continuing claims during the week ending June 25^th, 2022, was 1,375,000, an increase of 51,000 from the previous week’s revised level. The 4-week moving average was 1,335,000 an increase of 16,500 from the previous week’s revised average.

The advance seasonally adjusted insured unemployment rate was 1.0% for the week ending June 25^th , 2022, an increase of 0.1 percentage point from the previous week’s unrevised rate.