Jobless claims: Another 362,000 individuals filed new claims last week

[mahatmakanejeeves]

Source: Yahoo! Finance

Yahoo Finance

Jobless claims: Another 362,000 individuals filed new claims last week

Emily McCormick · Reporter
Thu, September 30, 2021, 8:31 AM

U.S. states saw an unexpected increase in initial jobless filings last week, even as companies across industries looked to bring on workers to fill widespread vacancies.

The Labor Department released its weekly jobless claims report Thursday morning. Here were the main metrics from the print, compared to consensus estimates compiled by Bloomberg:

-- Initial unemployment claims, week ended September 25: 362,000 vs. 330,000 expected, and an unrevised 351,000 during prior week

-- Continuing claims, week ended September 18: 2.802 million vs. 2.790 million expected, and a revised 2.820 million during prior week

New weekly jobless claims have risen for three consecutive weeks, increasing off a pandemic-era low from earlier this month but still remaining well below heightened prints from earlier this year. And initial unemployment claims have in recent months drawn closer to their pre-pandemic levels, with new weekly filings having come in at an average weekly pace of just over 200,000 in 2019.

Economists chalked up the mid-month increase in new jobless claims in part to a delayed impact from Hurricane Ida, which may have caused people to postpone unemployment filings at the beginning of the month. New jobless claims had reached a pandemic-era low of 312,000 at the start of September.

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Read more: https://finance.yahoo.com/news/weekly-jobless-claims-week-ended-september-25-2021-180212425.html

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That's ten percent more than expected.

Here's the placeholder article:

COMING UP Jobless claims: Another 330,000 individuals likely filed new claims last week
Check back at 8:30 a.m. ET for results

Yahoo Finance

Jobless claims preview: Another 330,000 individuals likely filed new claims last week

https://finance.yahoo.com/news/weekly-jobless-claims-week-ended-september-25-2021-180212425.html

Emily McCormick
Emily McCormick · Reporter
Wed, September 29, 2021, 2:02 PM

U.S. states likely saw a modest decline in initial jobless filings last week, with fewer individuals becoming newly unemployed as companies looked to bring on workers to fill widespread vacancies.

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

-- Initial unemployment claims, week ended September 25: 330,000 expected, 351,000 during prior week

-- Continuing claims, week ended September 18: 2.800 million expected, 2.846 million during prior week

Though new jobless claims have risen over the past two weeks, they still remain well below heightened prints from earlier this year. And initial unemployment claims have in recent months drawn closer to their pre-pandemic levels, with new weekly filings having come in at an average weekly pace of just over 200,000 in 2019.

Economists chalked up last week's greater-than-expected rise in new jobless claims in part to a delayed impact from Hurricane Ida, which may have caused people to postpone unemployment filings at the beginning of the month. New jobless claims had reached a pandemic-era low of 312,000 at the start of September.

Fully returning the labor market to pre-pandemic levels, however, has become a matter of bringing more workers back into the labor force, rather than curbing layoffs and separations. Job openings were at a record high of 10.9 million on the last business day in July, according to the Labor Department's latest monthly report, with some of the greatest demand for workers coming from the services sector.

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[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 30, 2021

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS

SEASONALLY ADJUSTED DATA

In the week ending September 25, the advance figure for seasonally adjusted initial claims was 362,000, an increase of 11,000 from the previous week's unrevised level of 351,000. The 4-week moving average was 340,000, an increase of 4,250 from the previous week's unrevised average of 335,750.

The advance seasonally adjusted insured unemployment rate was 2.0 percent for the week ending September 18, 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 September 18 was 2,802,000, a decrease of 18,000 from the previous week's revised level. The previous week's level was revised down by 25,000 from 2,845,000 to 2,820,000. The 4-week moving average was 2,797,250, a decrease of 750 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 down by 6,000 from 2,804,000 to 2,798,000.

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UNADJUSTED DATA

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The total number of continued weeks claimed for benefits in all programs for the week ending September 11 was 5,027,581, a decrease of 6,222,725 from the previous week. There were 27,205,974 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 21-1788-NAT

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