Weekly Jobless Claims Trend Higher in the Week Ending July 9, 2022

The U.S. Department of Labor is reporting that an additional 244,000 Americans (seasonally adjusted) made their initial filing for unemployment benefits during the week ending on Saturday, July 9, 2022. This is an increase of 9,000 from the previous week’s unrevised level of 235,000. The 4-week moving average was 235,750—an increase of 3,250 from the previous week’s unrevised average of 232,500.

The advance number for seasonally adjusted insured unemployment (known as continuing claims) during the week ending July 2, 2022, was 1,331,000—a decrease of 41,000 from the previous week’s revised level. The 4-week moving average was 1,339,500—an increase of 5,250 from the previous week’s revised average.

The advance seasonally adjusted insured unemployment rate was 0.9% for the week ending July 2, 2022, a decrease of 0.1 percentage point from the previous week’s unrevised rate.