Weekly Unemployment Claims: Down 1K, Lower Than Expected
This article was originally written by Doug Short. From 2016-2022, it was improved upon and updated by Jill Mislinski. Starting in January 2023, AP Charts pages will be maintained by Jennifer Nash at Advisor Perspectives/VettaFi.
Initial jobless claims measures the number of individual who filed for unemployment insurance for the first time following job loss during the past week. This morning's seasonally adjusted 191,000 new claims, down 1,000 from the previous week's revised figure, came in below the Investing.com forecast of 197,000.
Here is the opening statement from the Department of Labor:
In the week ending March 18, the advance figure for seasonally adjusted initial claims was 191,000, a decrease of 1,000 from the previous week's unrevised level of 192,000. The 4-week moving average was 196,250, a decrease of 250 from the previous week's unrevised average of 196,500.
The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending March 11, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending March 11 was 1,694,000, an increase of 14,000 from the previous week's revised level. The previous week's level was revised down by 4,000 from 1,684,000 to 1,680,000. The 4-week moving average was 1,684,000, an increase of 8,500 from the previous week's revised average. The previous week's average was revised down by 1,000 from 1,676,500 to 1,675,500.