US initial jobless claims and continuing claims

Initial jobless claims
  • Prior week
  • Initial jobless claims 1877K vs. 1843K estimate . Prior week revised to 2126K from 2123K previously reported
  • Initial jobless claims four-week average 2284K vs. 2608.75K last week
  • Continuing claims 21487K vs. 20000K estimate. Prior week revised to 20838K from 21052K previously reported
  • Continuing claims 4 week moving average 22446.25K vs. a revised to 2668.75K.
  • Total initial jobless claims have now reached 42.7 million
  • In the week of May 16, 35 states reported 10.741 million individuals claiming pandemic unemployment assistance benefits or PUA (see a discussion of this HERE). These benefits are not included in the weekly statistics. 28 states reported 209,692 individuals claiming pandemic emergency unemployment compensation benefits. These benefits are to self employed and independent contractors who have been affected by the COVID-19 pandemic (or Uber economy). As a result, the overall numbers are worse than reported.