Weekly Jobless Claims Modestly Lower in the Week Ending June 18, 2022

The US Department of Labor is reporting that an additional 229,000 Americans (seasonally adjusted) made their initial filing for unemployment benefits during the week ending on Saturday, June 18, 2022. This is a decline of 2,000 from the previous week’s revised level. The 4-week moving average was 223,500—an increase of 4,500 from the previous week’s revised average.

The advance number for seasonally adjusted insured unemployment (known as continuing claims) during the week ending June 11, 2022, was 1,315,000—an increase of 5,000 from the previous week’s revised level. The 4-week moving average was 1,310,000—a decrease of 7,000 from the previous week’s revised average. This is the lowest level for this average since January 3, 1970, when it was 1,280,250.

The advance seasonally adjusted insured unemployment rate was 0.9% for the week ending June 11, 2022, unchanged from the previous week’s unrevised rate.