Continued Claims Four-Week Moving Average Declines for Sixth Consecutive Week
Unemployment Claims Drop Across the Board
OKLAHOMA CITY – The Oklahoma Employment Security Commission (OESC) reports a continued decline in both initial and continued claims and a decline in both four-week moving averages.
“For six consecutive weeks, we have seen the continued unemployment claims’ four-week moving average decline,” said Shelley Zumwalt, OESC Executive Director. “The four-week moving average is a trusted way to gauge our state’s progress with unemployment, and we are continuing to see recovery week-to-week. We are hopeful that we will continue to see progress in the coming months as the agency remains focused on connecting claimants to workforce opportunities.”
Weekly Unemployment Numbers for Week Ending Aug. 28
- For the file week ending Aug. 28, the number of initial claims totaled 2,676, a decrease of 470 from the previous week's level of 3,146.
- For the same file week, the less volatile initial claims four-week moving average was 3,412, a decrease of 214 from the previous week's average of 3,626.
- The number of continued claims totaled 25,275, a decrease of 2,274 from the previous week’s level of 27,549.
- Continued claims’ four-week moving average was 28,069, a decrease of 1,104 from the previous week's average of 29,173.
Nationally, the advance figure for seasonally adjusted initial claims for the week ending Sept. 4 was 310,000, a decrease of 35,000 from the previous week's revised level, the U.S. Department of Labor reports. The four-week moving average was 339,500, a decrease of 16,750 from the previous week’s revised average. For the week ending Aug. 28, U.S. DOL reports the advance seasonally adjusted insured unemployment rate was 2.0%, 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.