Continued Unemployment Claims Decline for the 40th Consecutive Week
OESC Continues to Prioritize Paying Out American Rescue Plan Benefits
OKLAHOMA CITY – The Oklahoma Employment Security Commission (OESC) reports a continued decline in continued unemployment claims, with the continued claims four-week moving average declining for the 40th consecutive week.
“This past week, we saw a slight increase in initial claims that is aligned with the national trend. However, we are still seeing a meaningful decline in continued claims and the continued claims 4-week moving average, which is a key measurement of our economic progress as a state,” said Shelley Zumwalt, OESC Executive Director. “OESC remains focused on helping eligible claimants get the benefits they need. Since we began benefit payments under the American Rescue Plan (ARP) on March 22, the agency has paid out more than $123 million in benefits to more than 92,000 claimants.”
Weekly Unemployment Numbers for Week Ending March 27
- For the week ending March 27, the advance number of initial claims, unadjusted, totaled 8,182, an increase of 41 from the previous week's revised level of 8,141.
- Initial claims’ four-week moving average was 7,955, an increase of 247 from the previous week's revised average of 7,708.
- The advance unadjusted number of continued claims totaled 27,793, a decrease of 5,750 from the previous week’s revised level of 33,543.
- Continued claims’ four-week moving average was 32,096, a decrease of 1,900 from the previous week's revised average of 33,996.
Nationally, the advance figure for seasonally adjusted initial claims during the same period was 719,000, an increase of 61,000 from the previous week's revised level, the U.S. Department of Labor reports. The four-week moving average was 719,000, a decrease of 10,500 from the previous week. For the week ending March 20, U.S. DOL reports the advance seasonally adjusted insured unemployment rate was 2.7%, unchanged from the previous week's unrevised 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.