Jobless claims: Another 385,000 Americans filed new unemployment claims last week

[mahatmakanejeeves]

Source: Yahoo! Finance

Yahoo Finance

Jobless claims: Another 385,000 Americans filed new unemployment claims last week

Emily McCormick·Reporter
Thu, August 5, 2021, 8:31 AM · 2 min read

New weekly jobless claims fell to a one-month low last week, trending down but still coming in well above pre-pandemic levels as the labor market's recovery trudges forward.

The Labor Department released its weekly jobless claims report on Thursday at 8:30 a.m. ET. Here were the main metrics from the print, compared to consensus estimates compiled by Bloomberg:

-- Initial unemployment claims, week ended July 31: 385,000 vs. 383,000 expected and 400,000 during prior week

-- Continuing claims, week ended July 24: 2.930 million vs. 3.255 million expected and 3.269 million during prior week

Though claims are down significantly from their weekly pace of more than 1 million this time last year, they are still markedly elevated compared to their 2019 weekly average of just over 200,000.

Continuing unemployment claims came in lower than expected, breaking back below 3 million.

{snip}

Read more: https://finance.yahoo.com/news/weekly-jobless-claims-unemployment-labor-week-ended-july-31-2021-185817187.html

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Placeholder headline: Another 383,000 Americans likely filed new unemployment claims for week ended July 31
Check back at 8:30 a.m. ET for the results

[mahatmakanejeeves]

1. From the source:

https://www.dol.gov/ui/data.pdf

News Release

Connect with DOL at
https://blog.dol.gov

TRANSMISSION OF MATERIALS IN THIS RELEASE IS EMBARGOED UNTIL
8:30 A.M. (Eastern) Thursday, August 5, 2021

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS

SEASONALLY ADJUSTED DATA

In the week ending July 31, the advance figure for seasonally adjusted initial claims was 385,000, a decrease of 14,000 from the previous week's revised level. The previous week's level was revised down by 1,000 from 400,000 to 399,000. The 4-week moving average was 394,000, a decrease of 250 from the previous week's revised average. The previous week's average was revised down by 250 from 394,500 to 394,250.

The advance seasonally adjusted insured unemployment rate was 2.1 percent for the week ending July 24, a decrease of 0.3 percentage point from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending July 24 was 2,930,000, a decrease of 366,000 from the previous week's revised level. This is the lowest level for insured unemployment since March 14, 2020 when it was 1,770,000. The previous week's level was revised up 27,000 from 3,269,000 to 3,296,000. The 4-week moving average was 3,188,250, a decrease of 109,250 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 previous week's average was revised up by 6,750 from 3,290,750 to 3,297,500.

{snip}

UNADJUSTED DATA

{snip. Emphasis mine}

The total number of continued weeks claimed for benefits in all programs for the week ending July 17 was 12,975,015, a decrease of 181,251 from the previous week. There were 31,987,359 weekly claims filed for benefits in all programs in the comparable week in 2020.

{snip the rest of the twelve-page news release, until the end}

Weekly Claims Archives
Weekly Claims Data

U.S. Department of Labor news materials are accessible at http://www.dol.gov. The Department's Reasonable Accommodation Resource Center converts Departmental information and documents into alternative formats, which include Braille and large print. For alternative format requests, please contact the Department at [phone] (voice) or [phone] (federal relay).

U.S. Department of Labor
Employment and Training Administration
Washington, D.C. 20210
Release Number: USDL 21-1455-NAT

Program Contacts:
Thomas Stengle: [phone]
Media Contact: [phone]

[RussBLib]

2. do July job #'s get released Friday? n/t

[mahatmakanejeeves]

3. Yes. NT