Commodities NewsTrading News

US Unemployment insurance rate update

US Unemployment insurance rate update

In the week ending October 14, the preliminary data for seasonally adjusted initial unemployment insurance rate claims reveals a notable decrease to 198,000.

signifying a reduction of 13,000 claims when compared to the revised figure from the preceding week.
The previous week’s reported figure underwent an upward revision, increasing by 2,000 to 211,000 from an initial 209,000.
Meanwhile, the four-week moving average demonstrates a decline to 205,750, depicting a decrease of 1,000 in comparison to the revised average of the previous week.
The preceding week’s four-week moving average experienced a modest upward adjustment of 500, revising it to 206,750 from the initial 206,250.

Seasonally adjusted data regarding the US Unemployment insurance rate

For the week ending October 7, the advance seasonally adjusted insured unemployment rate remained at 1.2 percent.

Which maintain parity with the previously revised rate.
The prior week’s insured unemployment rate received a marginal upward revision of 0.1 percent, adjusting it from 1.1 to 1.2 percent.

Now the advance number of seasonally adjusted insured unemployment cases for the week ending October 7 saw an increase of 29,000 claims.

reaching a total of 1,734,000, in contrast to the revised figures from the prior week.
The preceding week’s reported cases underwent an upward revision, rising by 3,000 to 1,705,000 from the initial 1,702,000.
Additionally, the four-week moving average illustrates an increase of 19,000 claims compared to the revised average from the previous week, leading to a figure of 1,694,000.
The previous week’s four-week moving average underwent a minor upward revision of 750 claims, setting it at 1,675,000 from the initial 1,674,250.

Read more: August Job Growth Beats Expectations, But Unemployment Rate Rises

Unadjusted data

Ending on October 14, the preliminary US Unemployment insurance rate data reveals a total of 181,181 actual initial claims under state programs, in an unadjusted format.
This figure signifies a notable reduction of 18,561 claims, constituting a substantial 9.3 percent decline from the preceding week.
The seasonal adjustments had initially forecasted a decrease of 6,764 claims, translating to a 3.4 percent reduction from the previous week.
By comparison, during the corresponding week in the year 2022, the recorded initial claims amounted to 178,773.

In parallel, the unadjusted insured unemployment rate for the week ending October 7 registered at 1.0 percent, marking a reduction of 0.1 percentage point when compared to the prior week.

The unadjusted aggregate of insured unemployment claims within state programs was 1,548,709, signifying a decline of 6,466 claims, or a 0.4 percent decrease from the preceding week.

The seasonal adjustments, however, had projected a decrease of 32,399 claims, approximately a 2.1 percent reduction from the previous week.

It is noteworthy that one year ago, the rate stood at 0.8 percent, and the volume of claims was 1,199,269.

Moreover, during the week ending September 30, the total count of continued weeks for which claims were made across all programs reached 1,579,334.
This denotes a noteworthy decrease of 30,619 claims compared to the previous week.

In the corresponding week of the year 2022, there were 1,224,084 weekly claims filed for benefits across all programs.

US Unemployment insurance rate data stats update

It is pertinent to highlight that no state initiated the Extended Benefits program during the week concluding on September 30.

Lastly, during the week ending October 7, there were 464 initial claims for unemployment benefits filed by former Federal civilian employees.

marking an increase of 74 claims from the preceding week.

Furthermore, 421 initial claims were filed by newly discharged veterans, representing a rise of 23 claims from the week before.
In the week ending September 30, the states with the most elevated insured unemployment rates were as follows: Hawaii, registering 2.3, led the list.

followed by New Jersey at 2.1, California at 2.0, Puerto Rico at 1.8%, Massachusetts at 1.6, New York at 1.6, Oregon at 1.5, Rhode Island at 1.5, Nevada at 1.4, and Washington at 1.4.

Regarding initial jobless claims, for the week ending October 7, California experienced the most substantial surge, with an increase of 3,849 claims.

Texas observed a notable rise of 2,879 claims. Michigan reported an uptick of 2,039 claims, Illinois had an increase of 1,844 claims.

New Jersey reported 1,613 additional claims.

Conversely, the states with the most substantial reductions in initial claims during the same period were Ohio, showing a decrease of 846 claims.

Virginia seen a decrease of 370 claims, Hawaii with a decrease of 66 claims, North Dakota with a decrease of 33 claims.

Virgin Islands with a reduction of 18 claims.

Do you need help in finding the best forex broker for your needs?
Click here: The Best crypto exchange finder


Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *