Weekly Jobless Claims Slightly Decrease, Signalling Slow Growth as Covid-19 Cases Fall

U.S. Department of Labor

In the week ending February 6, the advance figure for seasonally adjusted initial claims was 793,000, a decrease of 19,000 from the previous week’s revised level. The previous week’s level was revised up by 33,000 from 779,000 to 812,000. The 4-week moving average was 823,000, a decrease of 33,500 from the previous week’s revised average. The previous week’s average was revised up by 8,250 from 848,250 to 856,500.

The advance seasonally adjusted insured unemployment rate was 3.2 percent for the week ending January 30, a decrease of 0.1 percentage point from the previous week’s revised rate. The previous week’s rate was revised up by 0.1 from 3.2 to 3.3 percent. The advance number for seasonally adjusted insured unemployment during the week ending January 30was 4,545,000, a decrease of 145,000 from the previous week’s revised level. The previous week’s level was revised up 98,000 from 4,592,000 to 4,690,000. The 4-week moving average was 4,748,750, a decrease of 157,500 from the previous week’s revised average. The previous week’s average was revised up by 24,500 from 4,881,750 to 4,906,250.

The advance number of actual initial claims under state programs, unadjusted, totaled 813,145 in the week ending February 6, a decrease of 36,534 (or -4.3 percent) from the previous week. The seasonal factors had expected a decrease of 17,368 (or -2.0 percent) from the previous week. There were 219,601 initial claims in the comparable week in 2020. In addition, for the week ending February 6, 52 states reported 334,524 initial claims for Pandemic Unemployment Assistance.

The advance unadjusted insured unemployment rate was 3.5 percent during the week ending January 30, a decrease of 0.2 percentage point from the prior week. The advance unadjusted level of insured unemployment in state programs totaled 5,025,135, a decrease of 167,609 (or -3.2 percent) from the preceding week. The seasonal factors had expected a decrease of 21,773 (or -0.4 percent) from the previous week. A year earlier the rate was 1.4 percent and the volume was 2,087,525.

The total number of continued weeks claimed for benefits in all programs for the week ending January 23 was 20,435,018, an increase of 2,596,539 from the previous week. There were 2,184,622 weekly claims filed for benefits in all programs in the comparable week in 2020.

During the week ending January 23, Extended Benefits were available in the following 19 states: Alaska, California, Connecticut, District of Columbia, Hawaii, Illinois, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, North Carolina, Oregon, Pennsylvania, Puerto Rico, Rhode Island, the Virgin Islands, and Washington.

Initial claims for UI benefits filed by former Federal civilian employees totaled 4,990 in the week ending January 30, an increase of 3,076 from the prior week. There were 1,056 initial claims filed by newly discharged veterans, a decrease of 112 from the preceding week.

There were 19,171 continued weeks claimed filed by former Federal civilian employees the week ending January 23, a decrease of 71 from the previous week. Newly discharged veterans claiming benefits totaled 9,171, an increase of 558 from the prior week.

During the week ending January 23, 50 states reported 8,715,306 continued weekly claims for Pandemic Unemployment Assistance benefits and 50 states reported 4,777,842 continued claims for Pandemic Emergency Unemployment Compensation benefits.

The highest insured unemployment rates in the week ending January 23 were in Pennsylvania (6.8), Alaska (6.4), Kansas (6.1), Nevada (6.1), Rhode Island (5.6), Illinois (5.5), Connecticut (5.4), the Virgin Islands (5.4), Massachusetts (5.3), and New Mexico (5.2).

The largest increases in initial claims for the week ending January 30 were in California (+51,025), New York (+11,140), Florida (+6,322), Rhode Island (+4,684), and Pennsylvania (+3,844), while the largest decreases were in Illinois (-55,473), Kansas (-7,496), Mississippi (-3,107), Ohio (-2,181), and New Jersey (-2,156).

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