US unemployment claims rise slightly

The number of US initial unemployment claims increased slightly for the week ending August 17, according to the latest data by the US Bureau of Labour Statistics. The seasonally adjusted figure rose to 232,000, up from the previous week’s revised level of 228,000.

The insured unemployment rate remained unchanged at 1.2 per cent. The number of continuing claims rose to 1,863,000, marking the highest level since November 2021.

Unadjusted Data

The unadjusted number of initial claims decreased by 4.6 per cent to 191,576. The insured unemployment rate remained at 1.2 per cent, and the total number of continued claims declined by 1.0 per cent to 1,864,872.

State-Level Trends

New Jersey, Puerto Rico, and Rhode Island had the highest insured unemployment rates, followed by California, Minnesota, Pennsylvania, and several other states. Georgia, Michigan, and Virginia experienced the largest increases in initial claims, while California, Texas, and Massachusetts saw significant decreases.

Attribution: The US Bureau of Labour Statistics