U.S. Jobless Claims Drop to Third Consecutive Pandemic Low

In the week ending June 5, the advance figure for seasonally adjusted initial claims was 376,000, a decrease of 9,000 from the previous week’s unrevised level of 385,000. This is the lowest level for initial claims since March 14, 2020 when it was 256,000. The 4–week moving average was 402,500, a decrease of 25,500 from the previous week’s unrevised average of 428,000. This is the lowest level for this average since March 14, 2020 when it was 225,500.

The advance seasonally adjusted insured unemployment rate was 2.5 percent for the week ending May 29, a decrease of 0.2 percentage point from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending May 29 was 3,499,000, a decrease of 258,000 from the previous week’s revised level. This is the lowest level for insured unemployment since March 21, 2020 when it was 3,094,000. The previous week’s level was revised down by 14,000 from 3,771,000 to 3,757,000. The 4–week moving average was 3,651,250, a decrease of 35,250 from the previous week’s revised average. This is the lowest level for this average since March 28, 2020 when it was 3,611,750.The previous week’s average was revised down by 1,250 from 3,687,750 to 3,686,500.

The advance number of actual initial claims under state programs, unadjusted, totaled 367,117 in the week ending June 5, a decrease of 58,196 (or –13.7 percent) from the previous week. The seasonal factors had expected a decrease of 49,826 (or –11.7 percent) from the previous week. There were 1,556,548 initial claims in the comparable week in 2020. In addition, for the week ending June 5, 50 states reported 71,292 initial claims for Pandemic Unemployment Assistance.

The advance unadjusted insured unemployment rate was 2.4 percent during the week ending May 29, a decrease of 0.1 percentage point from the prior week. The advance unadjusted level of insured unemployment in state programs totaled 3,315,550, a decrease of 174,537 (or –5.0 percent) from the preceding week. The seasonal factors had expected an increase of 83,748 (or 2.4 percent) from the previous week. A year earlier the rate was 13.1 percent and the volume was 19,119,547.

The total number of continued weeks claimed for benefits in all programs for the week ending May 22 was 15,349,465, a decrease of 95,099 from the previous week. There were 30,020,457 weekly claims filed for benefits in all programs in the comparable week in 2020.

During the week ending May 22, Extended Benefits were available in the following 12 states: Alaska, California, Colorado, Connecticut, District of Columbia, Illinois, Massachusetts, Nevada, New Jersey, New York, Rhode Island, and Texas.

Initial claims for UI benefits filed by former Federal civilian employees totaled 813 in the week ending May 29, a decrease of 27 from the prior week. There were 458 initial claims filed by newly discharged veterans, a decrease of 43 from the preceding week.

There were 11,750 continued weeks claimed filed by former Federal civilian employees the week ending May 22, a decrease of 477 from the previous week. Newly discharged veterans claiming benefits totaled 7,329, an increase of 331 from the prior week.

During the week ending May 22, 51 states reported 6,347,472 continued weekly claims for Pandemic Unemployment Assistance benefitsand 51 states reported 5,231,952 continued claims for Pandemic Emergency Unemployment Compensation benefits.

The highest insured unemployment rates in the week ending May 22 were in Nevada (4.8), Rhode Island (4.5), Connecticut (4.2), Puerto Rico (4.1), California (4.0), Alaska (3.9), Pennsylvania (3.9), New York (3.7), Illinois (3.6), and District of Columbia (3.3).

The largest increases in initial claims for the week ending May 29 were in Pennsylvania (+7,064), Illinois (+4,298), Kentucky (+3,454), Missouri (+2,744), and Michigan (+1,664), while the largest decreases were in Texas (–3,114), Oregon (–1,822), Virginia (–1,753), Florida (–1,625), and Washington (–1,577).