Unemployment Claims Decline for the 22nd Consecutive Week
OKLAHOMA CITY – The Oklahoma Employment Security Commission (OESC) continues to report a decline in the initial and continued unemployment claims with the continued claims four-week moving average dropping for the 22nd consecutive week.
“It is encouraging to see continued claims drop another week as we head into the holiday season,” said Shelley Zumwalt, Executive Director of OESC. “We are seeing a slight increase in initial claims that we will monitor for indicators of a more significant future trend. There are many different factors at play influencing unemployment claims and benefits including the expiration of CARES funding at the end of the year and any deviation in the downward trend of claims is worth keeping an eye on as we head into the last month of this year."
Weekly Unemployment Numbers for Week Ending Nov. 21
- For the week ending Nov. 21, the advance number of initial claims, unadjusted, totaled 5,065, a decrease of 447 from the previous week's revised level of 4,764.
- Initial claims’ four-week moving average was 4,777, an increase of 13 from the previous week's revised average of 4,764.
- The advance unadjusted number of continued claims totaled 42,040, a decrease of 9,511 from the previous week’s revised level of 51,551.
- Continued claims’ four-week moving average was 52,997, a decrease of 6,4455 from the previous week's revised average of 59,42.
Nationally, the advance figure for seasonally adjusted initial claims during the same period was 778,000, an increase of 30,000 from the previous week's revised level, the U.S. Department of Labor reports. The four-week moving average was 748,500, an increase of 5,000 from the previous week. For the week ending Nov. 14, DOL reports the advance seasonally adjusted insured unemployment rate was 4.1%, a decrease of 0.2 percentage point from the previous week’s revised rate.
The national weekly seasonally adjusted initial claims report is one of 10 components in the Composite Index of Leading Economic Indicators. To smooth out the volatility in the weekly initial claims data, a four-week moving average is used to assess trends.