Unemployment Insurance Weekly Claims Reach Record High Since 2021

Figures for seasonally adjusted initial claims reached the highest level since October 2021, according to a news release from the Department of Labor.

For the week ending June 3, advanced figures for seasonally adjusted claims was 261,000, up from last week’s claims by 28,000. This week’s claims mark the highest level of initial claims since October 30, 2021, according to the department. 

The previous week’s level was revised up by 1,000 from 232,000 to 233,000. The 4-week moving average was 237,250, an increase of 7,500 from the previous week’s revised average. The previous week’s average was revised up by 250 from 229,500 to 229,750.

For the week ending May 27, the advance seasonally adjusted insured unemployment rate was 1.2 percent, unchanged from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending May 27 was 1,757,000, down 37,000 from the previous week’s revised level. 

The previous week’s level was revised down by 1,000 from 1,795,000 to 1,794,000. The 4-week moving average was 1,784,750, a decrease of 12,500 from the previous week’s revised average. The previous week’s average was revised down by 250 from 1,797,500 to 1,797,250. 

Advance State Claims

Important to note numbers for advanced state claim data are not seasonally adjusted. When looking at claims on a state level, for the week ending June 3, Missouri reached 3,553, a decrease of 522 compared to the previous week. Missouri’s level of insured unemployment for the week ending May 27 reached 15,792, an increase of 836 from the previous week.

As for Kansas, initial claims reached 1,096, an increase of just 16 compared to the previous week. Kansas’ level of insured unemployment for the week ending May 27 reached 5,285, an increase of 605 compared to last week.

View the full DOL report, here.

Posted June 8, 2023