Continued Claims Four-week Moving Average Declines for 14th Consecutive Week
OESC Awarded National Governors Association Grant
OKLAHOMA CITY – The Oklahoma Employment Security Commission (OESC) reports that the continued claims’ four-week moving average declined for the week ending Oct. 23, while initial claims, the initial claims’ four-week moving average and continued claims increased. Additionally, OESC was selected by the National Governors Association to receive a grant to advance digital skills and promote equitable economic participation.
“Last week, we saw the continued claims four-week moving average decline for the 14th consecutive week, while initial and continued claims increased, which is consistent with historical seasonal patterns,” said Shelley Zumwalt, OESC Executive Director. “Unemployment insurance claims data is not seasonally adjusted, so in addition to cyclical trends, we often see seasonal patterns. One pattern that we have seen consistently over time is that initial claims tend to be higher in October compared to the prior month.”
“OESC remains dedicated to helping every Oklahoman find employment opportunities, and we are constantly looking for ways to make that happen. We are honored to have been awarded the National Governors Association NGA WIN grant. OESC will partner with other state agencies to identify and implement strategies that advance digital skill development and more equitable economic participation.”
Weekly Unemployment Numbers for Week Ending Oct. 23
- For the file week ending Oct. 23, the number of initial claims, unadjusted, totaled 3,442, an increase of 1,256 from the previous week's level of 2,186.
- For the same file week, the less volatile initial claims four-week moving average was 2,596, an increase of 338 from the previous week's average of 2,258.
- The number of continued claims totaled 16,938, an increase of 211 from the previous week’s level of 16,727.
- Continued claims’ four-week moving average was 17,446, a decrease of 614 from the previous week's average of 18,060.
Nationally, the advance figure for seasonally adjusted initial claims for the week ending Oct. 30 was 269,000, a decrease of 14,000 from the previous week's revised level, the U.S. Department of Labor (U.S. DOL) reports. The four-week moving average was 284,750, a decrease of 15,000 from the previous week’s revised average. For the week ending Oct. 23, the U.S. DOL reports the advance seasonally adjusted insured unemployment rate was 1.6%, a decrease 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.