June 25, 2020
For the week ended June 20, seasonally adjusted initial claims declined by 60,000 to 1,480,000 from the previous week’s revised level. Claims for the prior week was 1,540,000 following an upward revision of 32,000 from 1,508,000. According to the U.S. Department of Labour (DOL), “The 4-week moving average was 1,620,750, a decrease of 160,750 from the previous week’s revised average. The previous week’s average was revised up by 8,000 from 1,773,500 to 1,781,500.”
The advance seasonally adjusted insured unemployment rate stood at 13.4% for the week ending June 13, a fall of 0.5 percentage point from the prior week’s revised rate because the previous week’s rate was revised down by 0.2 percentage points from 14.1% to 13.9%. Moreover, DOL stated that, “The advance number for seasonally adjusted insured unemployment during the week ending June 13 was 19,522,000, a decrease of 767,000 from the previous week’s revised level. The previous week’s level was revised down by 255,000 from 20,544,000 to 20,289,000.” Relative to last week’s revised average, the 4-week moving average decreased by 329,750 to 20,421,250. Notably, there was a downward revision in the preceding week’s average by 63,750 from 20,814,750 to 20,751,000.
Based on the unadjusted advance estimate, there were 1,457,373 actual initial claims under state programs in the week ending June 20, a decline of 5,990 (or -0.4%) from the previous week. The seasonal factors had anticipated a rise of 53,913 (or 3.7%) from the previous week. Moreover, for the week ending June 20, 46 states observed 728,120 initial claims for Pandemic Unemployment Assistance.
During the week ending June 13, the advance unadjusted insured unemployment rate stood at 12.3%, a 0.3% decrease relative to the previous week. The advance unadjusted number for persons claiming UI benefits in state programs decreased 501,287 (or -2.7%) to 17,921,282 from a week earlier. The seasonal factors had expected an increase of 202,892 (or 1.1%) from the previous week.
A total of 30,553,817 persons claimed benefits in all programs for the week ended June 6, an increase of 1,294,309 compared to the prior week.
Extended Benefits, during the week ending June 6, were accessible in the following 44 states: Alabama, Alaska, Arkansas, California, Colorado, Connecticut, the District of Columbia, Delaware, Georgia, Hawaii, Idaho, Illinois, Iowa, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, Tennessee, Texas, Vermont, Virginia, Washington, West Virginia, and Wisconsin.
For the week ending June 06, 15,339 former Federal civilian employees claimed for UI benefits, a decrease of 175 relative to the previous week, whereas 12,483 newly discharged veterans (+582) claimed for benefits.
However, for the week ending June 13, 1,696 former Federal civilian employees claimed for UI benefits, a decrease of 21 relative to the previous week, whereas 1,194 newly discharged veterans (+35) claimed for benefits.
DOL noted that, “during the week ending Jun 6, 46 states reported 11,046,401 individuals claiming Pandemic Unemployment Assistance benefits and 38 states reported 851,983 individuals claiming Pandemic Emergency Unemployment Compensation benefits.”
In the week ending June 6, Nevada observed the highest insured unemployment rates of 22.6% followed by Puerto Rico (20.6), Hawaii (18.3), New York (17.8), California (17.3), Michigan (16.9), Louisiana (16.2), Massachusetts (16.2), the Virgin Islands (16.2), and Connecticut (15.8).
The states that experienced the highest increases in initial claims for the week ending June 13 were in in Oklahoma (+7,254), Texas (+5,047), New Jersey (+3,272), New York (+1,351), and Louisiana (+1,243), while the largest decreases were in Florida (-24,013), Maryland (-18,188), Massachusetts (-14,731), California (-14,412), and Michigan (-6,543).
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