May 06, 2021
The seasonally adjusted initial claims, advance estimate, decreased by 92,000 to 498,000, for the week ending May 1, from the prior week’s revised level, according to the U.S. Department of Labour (DOL). The prior week’s level was revised up 37,000 from 553,000 to 590,000. In comparison to the previous week’s average, the 4-week moving average was 560,000, a decrease of 61,000. Moreover, the preceding week’s average was revised down by 9,250 from 611,750 to 621,000.
The advance seasonally adjusted insured unemployment rate stood at 2.6% for the week ending April 24 from the prior week’s revised rate. Moreover, DOL stated that, “advance number for seasonally adjusted insured unemployment during the week ending April 24 was 3,690,000, an increase of 37,000 from the previous week’s revised level. The previous week’s level was revised down by 7,000 from 3,660,000 to 3,653,000.” Relative to last week’s revised average, the 4-week moving average decreased by 6,750 to 3,675,750. The prior week’s average was revised down by 1,500 from 3,684,000 to 3,682,500.
Based on the unadjusted advance estimate, there were 504,670 actual initial claims under state programs in the week ending May 1, a decrease of 107,390 (or -17.5%) from the previous week. The seasonal factors anticipated a fall of 15,508 (or -2.5%) from the previous week. Furthermore, for the week ending May 1, 52 states observed 101,214 initial claims for Pandemic Unemployment Assistance.
During the week ending April 24, the advance unadjusted insured unemployment rate stood at 2.7% relatively unchanged compared to the previous week. The advance unadjusted number of persons claiming UI benefits in state programs rose by 2,533 (or 0.1%) to 3,786,096 from a week earlier. The seasonal factors had anticipated a decrease of 34,614 (or -0.9%) from the previous week.
A total of 16,157,024 persons claimed benefits in all programs for the week ended April 17, a decline of 404,509 compared to the prior week.
Extended Benefits, during the week ending April 17, were accessible in the following 15 states: Alaska, California, Colorado, Connecticut, District of Columbia, Illinois, Massachusetts, Nevada, New Jersey, New Mexico, New York, Pennsylvania, Rhode Island, Texas, and the Virgin Islands.
For the week ending the 24th of April 974 former Federal civilian employees claimed for UI benefits, a decrease of 129 relative to the previous week, whereas 571 newly discharged veterans (+15) claimed for benefits.
However, for the week ending the 17th of April, 14,681 former Federal civilian employees claimed for UI benefits, a fall of 708 relative to the previous week, whereas 7,602 newly discharged veterans (-207) claimed for benefits.
DOL noted that, “during the week ending April 17, 51 states reported 6,862,705 continued weekly claims for Pandemic
Unemployment Assistance benefits and 51 states reported 4,972,507 continued claims for Pandemic Emergency Unemployment Compensation benefits.”
In the week ending April 17, Nevada observed the highest insured unemployment rate of 6.2% followed by Connecticut (5.2), the Virgin Islands (4.9), Alaska (4.7), New York (4.3), Illinois (4.1), Pennsylvania (4.1), Vermont (4.1), Rhode Island (4.0), and District of Columbia (3.7).
Virginia (+23,605), Florida (+9,179), Michigan (+8,234), California (+5,731), and Oregon (+4,064) had the highest increases in initial claims for the week ended April 24, while Texas (-12,673), Wisconsin (-7,504), Tennessee (-4,063), Georgia (-3,617), and Iowa (-3,026) had the largest decreases.
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