The U.S. Department of Labor is reporting that an additional 1.48 million Americans made their initial filing for unemployment benefits during the week ending on Saturday June 20th. A decline of 60,000 from the previous week’s revised level. It marks the twelfth straight week of declines in initial claims since the week ending March 28th, when it hit a record peak of 6.9 million. The four-week moving average decreased to 1,620,750 from a revised average of 1,781,500 in the previous week. This week’s new claims brought the fourteen-week total to 47.3 million. The number for seasonally adjusted insured unemployment, known as continuing claims, declined by 767,000 to a seasonally adjusted level of 19.52 million for the week ending June 13th. It is the first week that continuing claims have fallen below 20 million since the COVID-19 pandemic began. The four-week moving average was 20,421,250, a decrease of 329,750 from the previous week’s revised average. The seasonally adjusted insured unemployment rate declined by -0.5% to 13.4% for the week ending June 13th. The previous week’s rate was revised down by 023% point from 14.1% to 13.9%.
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UNEMPLOYMENT INSURANCE WEEKLY CLAIMS