January 27, 2023

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US initial jobless claims 547K versus 610K estimate

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Initial jobless claims and continuing claims for the current week

  • initial jobless claims 547K versus 610K estimate. Lowest level cents March 14, 2020
  • Prior week revised to 586K from 576K previously reported
  • four-week moving average initial claims 
  • continuing claims 3674K  vs last week 3708K versus 3731K previously reported. The continuing claims is a loss since March 21, 2020
  • four-week moving average continuing claims 3713K vs 3754K (revised)
  • prior week
  • During the week ending April 3, 51 states reported 7,309,604 continued weekly claims for Pandemic Unemployment
    Assistance benefits and 51 states reported 5,605,935 continued claims for Pandemic Emergency Unemployment
    Compensation benefits
  • The largest increases in initial claims for the week ending April 10 were in New York (+16,028), Florida (+9,377),
    Alabama (+5,517), Washington (+5,380), and Georgia (+4,759), 
  • The largest decreases were in California (-76,082),
    Virginia (-23,492), Ohio (-21,831), Texas (-17,436), and Kentucky (-15,424). 
Initial jobless claims and continuing claimsGood data for the 2nd consecutive week as the reopening in the US continues.  The claims numbers before the pandemic hit were around 215K area. So the data is better but still elevated. The last time the pre-pandemic number was above 547 was on the week of September 25, 2009 when it was at 554K.  That was down from a cycle high of 674K during the week of March 27, 2009. The high during the pandemic reached 6149.0K on April 3, 2020. 

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