Jobless Claims Remain Above 400,000 for Second Straight Week

Source: US Labor Department

American unemployment claims recorded a decline in the third week of June, but continued to be above the 400,000 level.

• Seasonally adjusted initial claims for the week ending June 19 fell 7,000 week-on-week to 411,000. This compares with the 1.472 million claims in the week ending June 13, 2020.
• The previous week’s level was revised higher by 6,000 to 418,00 from 412,000.
• The four-week moving average increased 1,500 to 397,750 versus the previous week’s 396,250.
• The advance insured unemployment rate for the week ending June 12 stood at 2.4%, down 0.1 percentage points from the previous week.
• Insured unemployment for the week fell 144,000 to 3.390 million, the lowest level since March 21, 2020’s 3.094 million.
• The biggest increases in claims were in Pennsylvania, California, Kentucky, Florida, and Texas.
• The biggest declines were in Michigan, Delaware, Washington, Tennessee, and Alabama.