Unemployment Claims Fall to Pandemic-Low for Second Straight Week

Source: US Labor Department

American unemployment claims declined further to mark the lowest level since the COVID-19 pandemic hit for the second consecutive week. DXY is down 0.06%, and Gold is down 0.06%.

• Seasonally adjusted initial claims for the week ending September 4 fell by 35,000 to 310,000. This is the lowest since claims were at 256,000 on March 14, 2020.
• The previous week’s level was revised to 345,000, up 5,000 from the 340,000.
• The four-week moving average fell by 16,750 to 339,500. This is also the lowest since March 14, 2020’s 225,500.
• The advance seasonally adjusted insured unemployment rate for the week ending August 28 was flat at 2.0%.
• Seasonally adjusted insured unemployment dropped by 22,000 to 2.783 million. This is the lowest since March 14, 2020’s 1.770 million.
• The biggest gains were in Missouri, Ohio, New York, Tennessee, and Florida.
• The largest drops were in California, Illinois, Virginia, New Jersey, and Oregon.