The U.S. Department of Labor is reporting that an additional 419,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, July 17, 2021 — an increase of 51,000 from the previous week’s revised level. The 4-week moving average was 385,250, an increase of 750 from the previous week’s revised average. The advance number for seasonally adjusted insured unemployment, known as continuing claims, during the week ending July 10, 2021 was 3,236,000 — a decrease of 29,000 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 3,338,000 — a decrease of 44,000 from the previous week’s revised average. This is the lowest level for this average since March 21, 2020, when it was 2,071,750. The advance seasonally adjusted insured unemployment rate was 2.4% for the week ending July 10, 2021, unchanged from the previous week’s unrevised rate.
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