Coronavirus Continues to Impact the Unemployment Rate but Initial Claims Decrease
According to the U.S. Department of Labor, the figure for initial unemployment claims was 2,123,000 for the week ending May 23. This week's number is a decrease of 323,000 from the previous week's revised level. The updated 4-week moving average was 2,608,000, a decline of 436,000 from the prior week's revised average.
For the week ending May 16, the adjusted insured unemployment rate reached 14.5%, a decrease of 2.6 percentage points from the previous week's rate. Also, the rate for the week prior was revised down by 0.1 to 17.1%. The 4-week moving average was 22,722,250, an increase of 760,250 from the previous week's revised level.
The number of actual initial claims under state programs, unadjusted, totaled...
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