American Jobless Claims Up from Previous Week’s Pandemic-Low

Source: US Labor Department

US unemployment claims posted slight gains after recording the lowest level since the COVID-19 pandemic hit in the previous week. DXY is up 0.16%, gold is down 0.06%.

• Seasonally adjusted initial claims in the week ending August 21 climbed 4,000 to 353,000.
• The previous week’s level was revised 1,000 higher to 349,000. This is the lowest since it stood at 256,000 on March 14, 2020.
• The four-week moving average fell by 11,500 to 366,500. This is the lowest since March 14, 2020’s 225,500.
• The advance seasonally adjusted insured unemployment rate for the week ending August 14 was 2.1%, unchanged from the previous week.
• Insured unemployment was recorded at 2.862 million, down 3,000 from the previous week. This is the lowest since March 14, 2020’s 1.770 million.
• The largest increases were in Virginia, New Mexico, the District of Columbia, Georgia, and Nevada.
• The biggest declines were in Texas, Illinois, Kentucky, Michigan, and Massachusetts.