Weekly Jobless Claims Decline in the Week Ending 26th September 2020

The U.S. Department of Labor is reporting that an additional 837,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday September 26^th. An decrease of 36,000 from the previous week’s revised level. Well below the peak of 6.9 million which dates back to the week ending March 28^th.  The 4-week moving average was 867,250, a decrease of 11,750 from the previous week’s revised average. This week’s new claims brought the twenty-four-week total to 61.782 million. The advance number for seasonally adjusted insured unemployment, known as continuing claims during the week ending 19^th September was 11,767,000, a decrease of 980,000 from the previous week’s revised level. Continuing claims remain below 20 million for the eleventh week in a row. The 4-week moving average was 12,701,250 a decrease of 381,250 from the previous week’s revised average. The advance seasonally adjusted insured unemployment rate was 8.1% for the week ending 19^th September, a decline of 0.6% from the previous week’s revised averages.