Weekly Jobless Claims Inch Lower in the Week Ending July 23, 2022

The US Department of Labor is reporting that an additional 256,000 Americans (seasonally adjusted) made their initial filing for unemployment benefits during the week ending on Saturday, July 23, 2022. This is a decrease of 5,000 from the previous week’s revised level of 261,000. The 4-week moving average was 249,250—an increase of 6,500 from the previous week’s revised average of 243,000.

The advance number for seasonally adjusted insured unemployment (known as continuing claims) during the week ending July 16, 2022, was 1,359,000. This is a decrease of 25,000 from the previous week’s unrevised level. The 4-week moving average was 1,362,000—an increase of 8,750 from the previous week’s unrevised average.

The advance seasonally adjusted insured unemployment rate was 1.0% for the week ending July 16, 2022, unchanged from the previous week’s unrevised rate.