Oklahoma ranks in the top 10 in CNN’s Back-to-Normal Index
OKLAHOMA CITY – The Oklahoma Employment Security Commission (OESC) reports that initial claims, continued claims and the initial claims’ four-week moving average decreased, while the continued claims’ four-week moving average increased for the week ending June 25.
“Oklahoma’s economy continues to be very strong, with low unemployment rates and high workforce participation,” said OESC Executive Director Shelley Zumwalt. “Just this week, CNN compiled a Back-to-Normal Index stating that Oklahoma’s economy is operating at 97% of where it was in early March 2020, ranking the state in the top 10 nationally. We will continue to monitor unemployment numbers closely over the coming months as interest rates and the national economy fluctuate to ensure we are providing the programs and services that Oklahoma needs to maintain our strong economy.”
Weekly Unemployment Numbers for Week Ending June 25
- For the file week ending June 25, the number of initial claims, unadjusted, totaled 1,249, a decrease of 332 from the previous week's level of 1,581.
- For the same file week, the less volatile initial claims’ four-week moving average was 1,680, a decrease of 330 from the previous week's average of 2,010.
- The unadjusted number of continued claims totaled 10,917, a decrease of 122 from the previous week’s level of 11,039.
- For the same file week, the less volatile continued claims’ four-week moving average was 10,973, an increase of 178 from the previous week's average of 10,795.
Nationally, the advance figure for seasonally adjusted initial claims for the week ending July 2 was 235,000, an increase of 4,000 from the previous week's unrevised level, the U.S. Department of Labor (U.S. DOL) reports. The four-week moving average was 232,500, an increase of 750 from the previous week's unrevised average. For the week ending June 25, the U.S. DOL reports the advance seasonally adjusted insured unemployment rate was 1%, an increase of 0.1 percentage point 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.
