Continued Claims’ Four-Week Moving Average Declines for 16th Consecutive Week
Initial and Continued Claims Reach Lowest Point Since the Beginning of the Pandemic
OKLAHOMA CITY – The Oklahoma Employment Security Commission (OESC) reports that unemployment claims declined for the week ending Nov. 6, with the continued claims’ four-week moving average declining for the 16th consecutive week.
“The state is now seeing well under 20,000 claims being filed per week and that bodes well as we see the balance of the UI Trust Fund climb since its near depletion from the pandemic at the beginning of this year," said Shelley Zumwalt, OESC Executive Director. “We are continuing to see promising indicators of our economic progress and I'm excited by all the opportunities for growth and innovation that I'm seeing all over the state. The agency is committed to getting Oklahomans back to work and helping our state to build a robust and capable workforce that supports our state's employers and attracts new businesses that see the value in growing with our state."
Weekly Unemployment Numbers for Week Ending Nov. 6
- For the file week ending Nov. 6, the number of initial claims, unadjusted, totaled 2,020 a decrease of 98 from the previous week's level of 2,118.
- For the same file week, the less volatile initial claims four-week moving average was 2,442, a decrease of 105 from the previous week's average of 2,547.
- The number of continued claims totaled 15,357, a decrease of 603 from the previous week’s level of 15,960.
- Continued claims’ four-week moving average was 16,246, a decrease of 558 from the previous week's average of 16,804.
Nationally, the advance figure for seasonally adjusted initial claims for the week ending Nov. 13 was 268,000, a decrease of 1,000 from the previous week's revised level, the U.S. Department of Labor (U.S. DOL) reports. The four-week moving average was 272,750, a decrease of 5,750 from the previous week’s revised average. For the week ending Nov. 6, the U.S. DOL reports the advance seasonally adjusted insured unemployment rate was 1.5%, 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.