Weekly Jobless Claims Unexpectedly Move Higher in the Week Ending June 12, 2021

The U.S. Department of Labor is reporting that an additional 412,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, June 12, 2021 — an increase of 37,000 from the previous week’s revised level. The 4-week moving average was 395,00, which is a decrease of 8,000 from the previous week’s revised average. This is the lowest level for this average of initial claims since March 14, 2020, when it was 225,000.

The advance number for seasonally adjusted insured unemployment, known as continuing claims, during the week ending June 5, 2021 was 3,518,000 — an increase of 1,000 from the previous week’s revised level. This is the lowest level for insured unemployment since March 21st, 2020, when it was 3,094,000. The 4-week moving average was 3,603,750 — a decrease of 55,000 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 2.5% for the week ending June 5, 2021, unchanged from the previous week’s unrevised rate.