Jobless claims: Another 340,000 individuals filed new claims -- lowest since March 2020

[mahatmakanejeeves]

Source: Yahoo! Finance

Jobless claims: Another 340,000 individuals filed new claims -- lowest since March 2020

Emily McCormick · Reporter
Thu, September 2, 2021, 8:30 AM

The U.S. saw the least number of new unemployment filings since March 2020 last week as employers sought out more workers to fill open positions during the recovery.

The Labor Department released its weekly jobless claims report on Thursday at 8:30 a.m. ET. Here were the main metrics from the print, compared to consensus estimates compiled by Bloomberg:

-- Initial unemployment claims, week ended August 28: 340,000 vs. 345,000 and 353,000 during the prior week

-- Continuing claims, week ended August 21: 2.748 million vs. 2.808 million and 2.862 million during the prior week

Initial unemployment claims were expected to improve further after a modest uptick last week. Filings have fallen sharply relative to August last year, when new claims were coming in at nearly 900,000 a week.

The trajectory toward improvement has come alongside broadening vaccinations and business reopenings in the U.S., but has still been partially hindered by lingering concerns over the virus. Some economists have also pointed to federal enhanced unemployment benefits as another factor keeping some workers on the sidelines and still claiming jobless insurance. These pandemic-era programs, however, will expire by Sept. 6 in the about two dozen states still offering them.

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Read more: https://finance.yahoo.com/news/weekly-jobless-claims-week-ended-august-28-2021-175436317.html

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Placeholder at Yahoo! Finance, put in place yesterday afternoon. Posted so you can see actual numbers v. estimates.

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New weekly jobless claims expected to hit lowest level since March 2020
Check back for results at 8:30 a.m.

Jobless claims preview: Another 345,000 individuals likely filed new claims -- lowest since March 2020

https://finance.yahoo.com/news/weekly-jobless-claims-week-ended-august-28-2021-175436317.html

Emily McCormick · Reporter
Wed, September 1, 2021, 1:54 PM

The U.S. likely saw the least number of new unemployment filings since March 2020 last week as employers sought out more workers to fill open positions during the recovery.

The Labor Department is set to release its weekly jobless claims report on Thursday at 8:30 a.m. ET. Here are the main metrics expected from the print, based on consensus estimates compiled by Bloomberg:

-- Initial unemployment claims, week ended August 28: 345,000 vs. 353,000 during the prior week

-- Continuing claims, week ended August 21: 2.808 million vs. 2.862 million during the prior week

Initial unemployment claims are expected to improve further after a modest uptick last week. Filings have fallen sharply relative to August last year, when new claims were coming in at nearly 900,000 a week.

{snip}

[mahatmakanejeeves]

1. From the source:

https://www.dol.gov/ui/data.pdf

News Release

Connect with DOL at
https://blog.dol.gov

TRANSMISSION OF MATERIALS IN THIS RELEASE IS EMBARGOED UNTIL
8:30 A.M. (Eastern) Thursday, September 2, 2021

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS

SEASONALLY ADJUSTED DATA

In the week ending August 28, the advance figure for seasonally adjusted initial claims was 340,000, a decrease of 14,000 from the previous week's revised level. This is the lowest level for initial claims since March 14, 2020 when it was 256,000. The previous week's level was revised up by 1,000 from 353,000 to 354,000. The 4-week moving average was 355,000, a decrease of 11,750 from the previous week's revised average. This is the lowest level for this average since March 14, 2020 when it was 225,500. The previous week's average was revised up by 250 from 366,500 to 366,750.

The advance seasonally adjusted insured unemployment rate was 2.0 percent for the week ending August 21, a decrease of 0.1 percentage point from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending August 21 was 2,748,000, a decrease of 160,000 from the previous week's revised level. This is the lowest level for insured unemployment since March 14, 2020 when it was 1,770,000. The previous week's level was revised up 46,000 from 2,862,000 to 2,908,000. The 4-week moving average was 2,855,000, a decrease of 58,000 from the previous week's revised average. This is the lowest level for this average since March 21, 2020 when it was 2,071,750. The previous week's average was revised up by 11,500 from 2,901,500 to 2,913,000.

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UNADJUSTED DATA

{snip. Emphasis mine}

The total number of continued weeks claimed for benefits in all programs for the week ending August 14 was 12,186,158, an increase of 178,526 from the previous week. There were 29,747,649 weekly claims filed for benefits in all programs in the comparable week in 2020.

{snip the rest of the twelve-page news release, until the end}

Weekly Claims Archives
Weekly Claims Data

U.S. Department of Labor news materials are accessible at http://www.dol.gov. The Department's Reasonable Accommodation Resource Center converts Departmental information and documents into alternative formats, which include Braille and large print. For alternative format requests, please contact the Department at [phone] (voice) or [phone] (federal relay).

U.S. Department of Labor
Employment and Training Administration
Washington, D.C. 20210
Release Number: USDL 21-1594-NAT

Program Contacts:
Thomas Stengle: [phone]
Media Contact: [phone]