Department of Labor Reports Rise In Initial Unemployment Claims

In the week ending May 27, the advance figure for seasonally adjusted initial claims was 232,000, an increase of 2,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 229,000 to 230,000. The 4-week moving average was 229,500, a decrease of 2,500 from the previous week’s revised average. The previous week’s average was revised up by 250 from 231,750 to 232,000.

The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending May 20, unchanged from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending May 20 was 1,795,000, an increase of 6,000 from the previous week’s revised level. The previous week’s level was revised down by 5,000 from 1,794,000 to 1,789,000. The 4-week moving average was 1,797,500, a decrease of 1,500 from the previous week’s revised average. The previous week’s average was revised down by 1,250 from 1,800,250 to 1,799,000

Read the full news release, here.

Posted June 5, 2023