US initial jobless claims in continuing claims

Initial jobless claims
  • Initial jobless claims 364K versus 390,000 estimate. Prior week revised to 415K vs 411 last week. The data is the lowest since March 14, 2020
  • 4-week moving average of initial jobless claims 392.75K vs 398.75K.
  • Continuing claims rises to 3469K vs 3382K estimate. The prior week was revised 23K to 3413K from 3390K previously reported (was a record low last week)
  • 4-week moving average of continuing claims came in at 3481.75K vs 3556.75. The 4-week moving average is at the lowest level since March 21, 2020.
  • The largest increases in initial claims for the week ending June 19 were in Pennsylvania (+14,715), Michigan (+1,862), and Texas (+1,814),
  • The largest decreases were in Illinois (-4,762), California (-4,112), Ohio (-2,955), Florida (-2,229), and Georgia (-1,826).
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The initial jobless claims have been quirky of late with claims rising over 400,000 the prior two weeks. Some are saying that the claims data is being influenced by fraudulent activity. Today's a data pushes of the level back below the 400,000 for the first time in three weeks.

Some 24 states have stopped the supplemental claims from being paid out ahead of the September proposed end date.