Weekly Jobless Claims Decline in the Week Ending March 12, 2022

The U.S. Department of Labor is reporting that an additional 214,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, March 12, 2022. This is a decrease of 15,000 from the previous week’s revised level. The 4-week moving average was 223,000—a decrease of 8,750 from the previous week’s revised average.

The advance number for seasonally adjusted insured unemployment (known as continuing claims) during the week ending March 5th, 2022, was 1,419,000—a decrease of 71,000 from the previous week’s revised level. This is the lowest level since February 21, 1970, when it was 1,412,000. The 4-week moving average was 1,463,000—a decrease of 42,500 from the previous week’s revised average. This is the lowest level for this average since March 21, 1970, when it was 1,456,750.

The advance seasonally adjusted insured unemployment rate was 1.0% for the week ending March 5, 2022, a decrease of 0.1% from the previous week’s unrevised rate.