Unemployment Claims Carve Pandemic-Low for Ninth Straight Week

Unemployment Claims Carve Pandemic-Low for Ninth Straight Week

(US Labor Department) Jobless claims in the United States of America fell further on Thursday to mark a fresh low since the COVID-19 pandemic hit.

Seasonally adjusted initial claims dropped 9,000 to 376,000 in the week ending June 5. This is the lowest since March 14, 2020’s 256,000. The previous week was kept unchanged at 385,000.

The advance seasonally adjusted insured unemployment rate for the week ending May 29 fell 0.2 percentage point to 2.5%. Insured unemployment declined by 258,000 week-on-week to 3.499 million.

The biggest jumps in initial claims were seen in Pennsylvania, Illinois, Kentucky, Missouri, and Michigan. The largest declines were in Texas, Oregon, Virginia, Florida, and Washington.

The four-week initial claims average dropped 25,500 to 402,500, also the lowest since the 225,500 on March 14, 2020.

DXY is down 0.04%, Gold is up 0.04%.

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