U.S. Weekly Jobless Claims Decline in the Week Ending June 24th, 2023

The U.S. Department of Labor reported on Thursday (6-29-23), that on a seasonally adjusted basis, an additional 239,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, June 24, 2023. A decrease of 26,000 from the previous week’s upward revised level of 265,000, originally reported as 264,000. The 4-week moving average was 257,500, an increase of 1,500 from the previous week’s upward revised level of 256,000, originally reported as 255,750. This is the highest level for this average since November 13, 2021, when it was 260,000.

The advance number for seasonally adjusted insured unemployment, known as continuing claims during the week ending June 17, 2023, was 1,742,000, a decrease of 19,000 from the previous week’s upwardly revised level of 1,761,000, originally reported as 1,759,000. The 4-week moving average was 1,757,500 a decrease of 13,000 from the previous week’s upwardly revised level of 1,770,500, originally reported as 1,770,000.

The advance seasonally adjusted insured unemployment rate was 1.2% for the week ending June 17, 2023, unchanged from the previous week’s unrevised rate.