Continued Claims Four-week Moving Average Declines for 15th Consecutive Week
Unemployment Claims Decline to Pre-pandemic Numbers
OKLAHOMA CITY – The Oklahoma Employment Security Commission (OESC) reports that unemployment claims across the board declined for the week ending Oct. 30, with the continued claims’ four-week moving average declining for the 15th consecutive week. Additionally, initial claims declined by nearly 40% compared to the week ending in Oct. 23.
“Oklahoma’s continued claims dropped below pre-pandemic levels reported in March 2020 for the second time since the start of the pandemic,” said Shelley Zumwalt, OESC Executive Director. “This past year and a half has been challenging for everyone, and I am so proud of OESC’s dedicated team for their commitment to go above and beyond to help Oklahomans in need. Our ability to return to pre-pandemic levels so quickly is a direct result of Oklahoma employees and employers working together to ensure our state’s economy continues to grow and support our citizens even during the worst of times.”
Weekly Unemployment Numbers for Week Ending Oct. 30
- For the file week ending Oct. 30, the number of initial claims, unadjusted, totaled 2,118, a decrease of 1,324 from the previous week's level of 3,442.
- For the same file week, the less volatile initial claims four-week moving average was 2,547, a decrease of 49 from the previous week's average of 2,596.
- The number of continued claims totaled 15,960, a decrease of 978 from the previous week’s level of 16,938.
- Continued claims’ four-week moving average was 16,804, a decrease of 642 from the previous week's average of 17,446.
Nationally, the advance figure for seasonally adjusted initial claims for the week ending Nov. 6 was 267,000, a decrease of 4,000 from the previous week's revised level, the U.S. Department of Labor (U.S. DOL) reports. The four-week moving average was 278,000, a decrease of 7,250 from the previous week’s revised average. For the week ending Oct. 30, the U.S. DOL reports the advance seasonally adjusted insured unemployment rate was 1.6%, 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.