Market Updates

Seasonally Adjusted Weekly Jobless Claims Declined Under New Methodology

Brian Turner
06 Apr, 2023
New York City

    Initial jobless claims for the week ending on April 1 declined 18,000 to 228,000, the U.S. Department of Labor said in its weekly report Thursday. 

    Jobless claims for the previous week were sharply revised higher to 248,000 from the first estimate of 196,000, reflecting a change in the methodology of adjusting for seasonality.    

    The 4-week moving average was 237,750, a decrease of 4,250 from the previous week's revised average. 

    The previous  week's average was revised up by 43,750 from 198,250 to 242,000. 

    The preliminary number of actual initial claims under state programs, unadjusted, totaled 206,931 in the week ending April  1, a decrease of 17,262 from 194,671 claims in the comparable week a year ago. 

    The advance unadjusted insured unemployment rate was 1.3% during the week ending March 25, unchanged from  the prior week. 

    The advance unadjusted level of insured unemployment in state programs totaled 1,845,171, a decrease  of 32,139 from the preceding week. 

    The total number of unadjusted continued weeks claimed for benefits in all programs for the week ending March 18 was 1,905,334,  a decrease of 1,183 from the previous week. 

    There were 1,728,353 weekly claims filed for benefits in all programs in the  comparable week in 2022.

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