Weekly Jobless Claims Decline in the Week Ending July 24, 2021

The U.S. Department of Labor is reporting that an additional 400,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, July 24, 2021 — a decrease of 24,000 from the previous week’s revised level. The 4-week moving average was 394,500, an increase of 8,000 from the previous week’s revised average. The advance number for seasonally adjusted insured unemployment, known as continuing claims during the week ending July 17, 2021 was 3,269,000 — an increase of 7,000 from the previous week’s revised level. The 4-week moving average was 3,290,750 — a decrease of 53,750 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 17, 2021, unchanged from the previous week’s unrevised rate.