Weekly Jobless Claims Drop in the Week Ending June 5, 2021

The U.S. Department of Labor is reporting that an additional 376,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, June 5, 2021 — a decrease of 9,000 from the previous week’s unrevised level. This is the lowest level for this average of initial claims since March 14, 2020, when it was 256,000. The 4-week moving average was 402,500 — a decrease of 25,500 from the previous week’s revised average. The advance number for seasonally adjusted insured unemployment, known as continuing claims during the week ending May 29, 2021 was 3,449,000 — a decrease of 258,000 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 3,651,250 — a decrease of 35,250 from the previous week’s revised average. The advance seasonally adjusted insured unemployment rate was 2.5% for the week ending May 29, 2021 — a decrease of 0.2% from the previous week’s unrevised rate.