Weekly Jobless Claims, 4-Week Average Lowest Since December 6, 1969

4-Week Average for Jobless Claims Also Fell to Lowest Level Since December 6, 1969

Initial jobless claims fell to a seasonally adjusted initial claims fell to 203,000 for week ending September 1, the lowest level since December 6, 1969. As People’s Pundit Daily reported, the 4-week average had fallen last week to the lowest level since December 13, 1969.

The 4-week moving average fell to 209,500, a decline of 2,750 from the previous week’s unrevised average of 212,250. This is again the lowest level for this average since December 6, 1969 when it was 204,500.

The Labor Department (DOL) said no state was triggered “on” the Extended Benefits program during the week ending August 18.

In lagging data, the advance seasonally adjusted insured unemployment rate was unchanged at a very low 1.2% for the week ending August 25. The advance number for seasonally adjusted insured unemployment fell by 3,000 during the week ending August 25 to 1,707,000.

The 4-week moving average was 1,718,500, a decrease of 13,250 from the previous week’s revised average. This is the lowest level for this average since December 8, 1973 when it was 1,715,500.

The highest insured unemployment rates in the week ending August 18 were in New Jersey (2.5), Connecticut (2.2), Pennsylvania (2.0), Puerto Rico (1.9), Rhode Island (1.9), Alaska (1.8), California (1.8), Illinois (1.5), Massachusetts (1.5), and New York (1.5).

The largest increases in initial claims for the week ending August 25 were in New York (+4,853), Michigan (+927), Pennsylvania (+582), Washington (+556), and Oregon (+364), while the largest decreases were in California (-1,432), New Jersey (-905), Georgia (-532), Ohio (-365), and North Carolina (-214).

The Unemployment Weekly Insurance Claims report indicates another solid Employment Situation. The monthly jobs report on the labor market is due out Friday morning.