Initial, Continued, and Initial Claims' Four-Week Average Numbers Increase

OKLAHOMA CITY – The Oklahoma Employment Security Commission (OESC) reports that initial claims, continued claims, and the initial claims’ four-week moving average increased while the continued claims’ four-week moving average slightly declined for the week ending March 26.

“We are watching Oklahoma’s unemployment numbers closely as they have trended up over the last few weeks,” said OESC Executive Director Shelley Zumwalt. “We are likely seeing a return to more sustainable unemployment numbers after recently experiencing the lowest unemployment rates in the state and nation, combined with cyclical market events. Keeping all of this in mind, Oklahoma’s economy and workforce are continuing to thrive, and our unemployment rates remain below pre-pandemic levels.”

• For the file week ending March 26, the number of initial claims, unadjusted, totaled 2,946, an increase of 685 from the previous week's level of 2,261. 
• For the same file week, the less volatile initial claims’ four-week moving average was 2,156, an increase of 377 from the previous week's average of 1,779.
• The number of continued claims totaled 11,921, an increase of 299 from the previous week’s level of 11,622.
• Continued claims’ four-week moving average was 11,849, a decrease of two from the previous week's average of 11,851.

Nationally, the advance figure for seasonally adjusted initial claims for the week ending April 2 was 166,000, a decrease of 5,000 from the previous week's revised level, the U.S. Department of Labor (U.S. DOL) reports. The four-week moving average was 170,000, a decrease of 8,000 from the previous week's revised average. For the week ending March 26, the U.S. DOL reports the advance seasonally adjusted insured unemployment rate was 1.1%, unchanged from the previous week’s revised 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.