New Jobless Claims Fall To The Lowest Levels Since Mid-March

September 3, 2020

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In the week ending August 29, the advance figure for seasonally adjusted initial claims was 881,000, a decrease of 130,000 from the previous week’s revised level. The previous week’s level was revised up by 5,000 from 1,006,000 to 1,011,000. The 4-week moving average was 991,750, a decrease of 77,500 from the previous week’s revised average. The previous week’s average was revised up by 1,250 from 1,068,000 to 1,069,250.

The advance seasonally adjusted insured unemployment rate was 9.1 percent for the week ending August 22, a decrease of 0.8 percentage point from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending August 22 was 13,254,000, a decrease of 1,238,000 from the previous week’s revised level. The previous week’s level was revised down by 43,000 from 14,535,000 to 14,492,000. The 4-week moving average was 14,496,250, a decrease of 709,000 from the previous week’s revised average. The previous week’s average was revised down by 10,500 from 15,215,750 to 15,205,250.

Initial claims for UI benefits filed by former Federal civilian employees totaled 1,051 in the week ending August 22, a decrease of 94 from the prior week. There were 802 initial claims filed by newly discharged veterans, a decrease of 228 from the preceding week.

There were 14,165 former Federal civilian employees claiming UI benefits for the week ending August 15, an increase of 197 from the previous week. Newly discharged veterans claiming benefits totaled 13,684, an increase of 118 from the prior week.

During the week ending Aug 15, 49 states reported 13,570,327 individuals claiming Pandemic Unemployment Assistance benefits and 49 states reported 1,393,314 individuals claiming Pandemic Emergency Unemployment Compensation benefits.

The highest insured unemployment rates in the week ending August 15 were in Hawaii (18.6), Nevada (16.4), California (16.3), Puerto Rico (16.1), New York (15.2), Connecticut (14.0), Louisiana (13.3), Georgia (12.6), the Virgin Islands (11.8), District of Columbia (11.7), and Massachusetts (11.7).

The largest increases in initial claims for the week ending August 22 were in California (+6,562), Illinois (+3,856), Pennsylvania (+1,926), Kansas (+1,061), and Rhode Island (+503), while the largest decreases were in Florida (-21,127), Texas (-9,248), New Jersey (-5,235), Virginia (-3,715), and North Carolina (-3,708).

Full report details can be found on the Department Of Labor website here:

www.dol.gov

 

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