Weekly Jobless Claims Decrease in the Week Ending May 28, 2022

The U.S. Department of Labor is reporting that an additional 200,000 Americans (seasonally adjusted) made their initial filing for unemployment benefits during the week ending on Saturday, May 28, 2022. This is a decrease of 11,000 from the previous week’s unrevised level. The 4-week moving average was 206,500—a decrease of 500 from the previous week’s revised average.

The advance number for seasonally adjusted insured unemployment (known as continuing claims) during the week ending May 21, 2022, was 1,309,000—a decrease of 34,000 from the previous week’s revised level. This is the lowest level for insured unemployment since December 27, 1969, when it was 1,304,000. The 4-week moving average was 1,327,250—a decrease of 19,500 from the previous week’s revised average. This is the lowest level for this average since January 10, 1970, when it was 1,310,250.

The advance seasonally adjusted insured unemployment rate was 0.9% for the week ending May 21, 2022, a decrease of -0.1% from the previous week’s unrevised rate.