Weekly Jobless Claims Decline in First Week of February

The U.S. Department of Labor is reporting that an additional 793,000 Americans made their initial filing for unemployment benefits during the week ending on February 6, 2021–a decrease of 19,000 from the previous week’s revised level. The 4-week moving average was 823,000, a decrease of 33,500 from the previous week’s revised average. The advance number for seasonally adjusted insured unemployment, known as continuing claims, during the week ending 30th January 2021 was 4,748,750, a decrease of 193,000 from the previous week’s revised level. The 4-week moving average was 4,881,750, a decrease of 157,500 from the previous week’s revised average. The advance seasonally adjusted insured unemployment rate was 3.2% for the week ending 30th January 2021, a decrease of 0.1 % from the previous week’s revised rate.