Business & Investment

Weekly initial unemployment benefits reduced to 473,000

Along Calculated risk of 5/13/2021 08:38:00 AM

DOL report:

Week until May 8th The seasonally adjusted initial billing pre-number was 473,000, A decrease of 34,000 from the correction level of the previous week. This is the lowest level of first billing since 256,000 on March 14, 2020. Last week’s level increased by 9,000 from 498,000 to 507,000. The 4-week moving average was 534,000, a decrease of 28,250 from the previous week’s revised average. This is the lowest level of this average since 225,500 on March 14, 2020. Last week’s average increased by 2,250 from 560,000 to 562,250.
Emphasis added

This does not include the 103,571 initial claims for Pandemic Unemployment Assistance (PUA), which increased from 101,815 last week.

The following graph shows the 4-week moving average of weekly billing since 1971.

Click the graph to see the enlarged image.

The dashed line in the graph is the current 4-week average. The four-week average of weekly unemployment claims fell to 534,000.

The previous week was revised.

Regular state renewal billing decreased from 3,700,000 (SA) last week to 3,655,000 (SA).

Note: There are additional 7,283,703 receptions Pandemic Unemployment Support (PUA) This is an increase from 6,863,451 last week (I have questions about these numbers). This is a special program for business owners, self-employed, independent contractors, or other unemployed gig workers. Also, the additional 5,265,193 receiving Pandemic Emergency Unemployment Compensation (PEUC) increased from 4,973,804.

Weekly billing was close to the consensus forecast.

Weekly initial unemployment benefits reduced to 473,000

http://feedproxy.google.com/~r/CalculatedRisk/~3/80KSG_mYDXQ/weekly-initial-unemployment-claims_13.html Weekly initial unemployment benefits reduced to 473,000

Back to top button