Weekly Jobless Claims Decline in the Week Ending July 3, 2021

The U.S. Department of Labor is reporting that an additional 373,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, July 3, 2021. This is an increase of 2,000 from the previous week’s revised level. The 4-week moving average was 394,500, a decrease of 250 from the previous week’s revised average. This is the lowest level for this average since March 14th, 2020, when it was 225,500. The advance number for seasonally adjusted insured unemployment, known as continuing claims during the week ending June 26, 2021 was 3,339,000, a decrease of 145,000 from the previous week’s revised level. This is the lowest level for insured unemployment since March 21, 2020, when it was 3,094,000. The 4-week moving average was 3,440,750, a decrease of 44,500 from the previous week’s revised average. This is the lowest level for this average since March 21st, 2020, when it was 2,071,750. The advance seasonally adjusted insured unemployment rate was 2.4% for the week ending June 26, 2021, a decrease of 0.1% from the previous week’s unrevised rate.