UI Weekly Claims in US – Below the 1 M line at 963,000

In the week ending August 8, the advance figure for seasonally adjusted initial claims was 963,000, a decrease of 228,000 from the previous week’s revised level. The previous week’s level was revised up by 5,000 from 1,186,000 to 1,191,000. The 4-week moving average was 1,252,750, a decrease of 86,250 from the previous week’s revised average. The previous week’s average was revised up by 1,250 from 1,337,750 to 1,339,000.

Chosen excerpts by Job Market Monitor. Read the whole story @ News Releases | U.S. Department of Labor

Note from JMM : Those figures does not include the 488,622 initial claims for Pandemic Unemployment Assistance (PUA).

Figure B shows continuing claims in all programs over time (the latest data are for July 25). Continuing claims are 26.6 million above where they were a year ago. However, the above caveat about potential double counting applies here too, which means the trends over time should be interpreted with caution.

Chosen excerpts by Job Market Monitor. Read the whole story @ Millions of workers are relying on unemployment insurance benefits that are being stalled and slashed | Economic Policy Institute