Weekly Jobless Claims Decline for the Week Ending September 12th, 2020

The U.S. Department of Labor is reporting that an additional 860,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday September 12th. A decrease of 33,000 from the previous week’s revised level. Well below the peak of 6.9 million which dates back to the week ending March 28th. The 4-week moving average was 912,000, a decrease of 61,000 from the previous week’s revised average. This week’s new claims brought the twenty-three-week total to 60.075 million. The advance number for seasonally adjusted insured unemployment, known as continuing claims during the week ending 5th September was 12,628,000, a decrease of 916,000 from the previous week’s revised level. Continuing claims remain below 20 million for the tenth week in a row. The 4-week moving average was 13,489,000 a decrease of 532,750 from the previous week’s revised average. The advance seasonally adjusted insured unemployment rate was 8.6% for the week ending September 5th, a decline of 0.6% the previous week’s revised averages.