Seasonally adjusted data: Initial unemployment claims released by the U.S. Department of Labor are a measure of the number of people filing first-time claims for state unemployment insurance. A higher-than-expected number indicates weakness in the US labor market, reflects negatively on the US economy, and is negative for the US dollar. On the other hand, a decreasing number should be considered as an upward trend for the US dollar.
In week ending May 25, the advance figure for seasonally adjusted initial claims was 219,000, an increase of .3000 from the previous week’s revised level. The previous week’s level was revised upward by 1,000 from 215,000 to 216,000. The 4-week moving average was 222,500, an increase of 2,500 from the previous week’s revised average. previous week’s average was revised by 250 from 219,750 to 220,000. The seasonally adjusted insured unemployment rate was 1.2% for the week ending May 18, unchanged.
From the unadjusted rate of the previous week. advance figure for seasonally adjusted insured unemployment during the week ending May 18 was 1,791,000, an increase of 4,000 from the previous week’s revised level. Last week, the level was revised down by 7,000 from 1,794,000 to 1,787,000. The 4-week moving average was 1,786,250, up from 5,750 from the previous week’s revised average. The previous week’s average was revised down by 1,750 from 1,782,250 to 1,780,500.
Unadjusted data: The advance number of actual initial claims under state programs, unadjusted, was 195,615 in the week ending May 25, an increase of 2,898 (or 1.5 percent) from the previous week. Seasonal factors expected no change in…
Unadjusted data from the previous week. There were 208,053 initial claims in the comparable week of 2023.
The unadjusted insured unemployment rate was 1.1 percent during the week ending May 18, unchanged from The last week.
Total unadjusted level of insured unemployment
The total unadjusted level of unemployment insured in state programs was 1,667,635, a decrease from 19,133 (or -1.1 percent) from the previous week. Seasonal factors were forecasting a decline of 23,229 (or -1.4 percent) from the previous week. A year ago, the rate was 1.1 percent and volume was 1,608,222. The total number of continuous weeks claimed for benefits across all programs for the week ending May 11 was 1,710,917,
Down 28 from the previous week. 1,636,995 weekly claims were filed for benefits across all programs in a similar week in 2023. No Extended Benefits status was active during the week ending May 11. Initial claims for unemployment insurance benefits filed by former federal civilian employees totaled 338 in the week ending May 18, a decrease of 48 from the previous week. There were 368 initial claims filed by newly discharged veterans, a decrease of 37
From the previous week. There were 4,494 continuous weeks claimed by former federal civilian employees in the week ending May 11, a decrease of 243 from the previous week. The total number of newly discharged veterans claiming benefits was 4,386, an increase of 126 from the previous week.
The highest rates of insured unemployment in the week ending May 11 were in New Jersey (2.3), California (2.2), and Illinois.
(1.6), Massachusetts (1.6), Nevada (1.6), New York (1.6), Rhode Island (1.6), Washington (1.6), Alaska (1.5), and Pennsylvania (1.4)
The largest increases in initial claims for the week ending May 18 were in Texas (+798), Michigan (+775), and Missouri
(+461), Oklahoma (+334), and New Jersey (+310), while the largest declines were in California (-2460), Indiana
(-1,105), New York (-626), Florida (-612), and Minnesota (-522).
Footnotes AS Seasonally Adjusted Data, NSA – Non-Seasonally Adjusted Data Continuous weeks claimed represent all benefit weeks
Why it matters to traders
They were claimed during the week reported, and do not represent weeks claimed by unique individuals.
1.The previous year is comparable to the latest data.
2. The last week used covered employment of 150,520,106 as the denominator.
3. Some states maintain supplemental benefit programs for claimants who have exhausted regular benefits, and when
Extended benefits applicable. Information can be found on participating countries, the extent of benefits paid and claims submitted cannot be directly compared to claims reported in previous weeks. Advance claims are reported by the state responsible for paying unemployment compensation, while claims reported in prior weeks reflect claimants’ place of residence. In addition, claims reported as “work share equivalent” in the previous week are added to the advance
Why do traders matter? Every Thursday, the US Department of Labor publishes the number of initial claims for unemployment benefits in the previous week in the United States. Since this reading can be very volatile, investors may pay more attention to the four-week average. A downward trend is seen as a sign of an improving labor market and can have a positive impact on the performance of the US dollar against its competitors and vice versa.
Institutions and other basic information
About the U.S. Department of Labor: The U.S. Department of Labor is a government organization responsible for occupational safety and health, wage and hour standards, unemployment benefits, reemployment services, and related statistics. It carries out its mission through a number of offices and agencies, organized into major program areas. Among its various agencies, it includes the Bureau of Labor Statistics, which is responsible for issuing the Nonfarm Payrolls Report, a monthly labor review of the employment situation in the United States. Because the US Federal Reserve bases its monetary policy decisions on employment and inflation
