Weekly Jobless Claims Hold Steady for the Week Ending September 5th, 2020

The U.S. Department of Labor is reporting that an additional 884,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday September 5th. Unchanged, from last week’s upward adjusted numbers. Still well below the peak of 6.9 million which dates back to the week ending March 28th. The 4-week moving average was 970,750, a decrease of 21,750 from the previous week’s revised average. This week’s new claims brought the twenty-two-week total to 59.215 million. The advance number for seasonally adjusted insured unemployment, known as continuing claims during the week ending 29th August was 13,385,000, an increase of 93,000 from the previous week’s revised level. Continuing claims remain below 20 million for the nineth week in a row. The 4-week moving average was 13,982,000 a decrease of 523,750 from the previous week’s revised average. The advance seasonally adjusted insured unemployment rate was 9.2% for the week ending 29th August, an increase of 0.1 % point from the previous week’s unrevised rate.