OESC Continues to Monitor Statewide and National Trends
OKLAHOMA CITY – The Oklahoma Employment Security Commission (OESC) reports that unemployment claims increased across all reporting categories for the week ending July 16.
“Recent shifts in unemployment claims during June and July are expected seasonal increases that are aligned with historical trends for this time of year, but we are also starting to see cyclical increases that are a reflection of the larger economic environment. Oklahoma’s unemployment rate still remains below pre-pandemic levels and the state continues to stand out as a national leader in economic strength, with high workforce participation and low unemployment rates,” said Shelley Zumwalt, OESC Executive Director. “The agency remains vigilant in monitoring statewide and national unemployment and economic trends as we work to provide resources to connect job seekers with high-quality employers in Oklahoma.”
Weekly Unemployment Numbers for Week Ending July 16
- For the file week ending July 16, the number of initial claims, unadjusted, totaled 2,679, an increase of 571 from the previous week's level of 2,108.
- For the same file week, the less volatile initial claims’ four-week moving average was 1,946, an increase of 274 from the previous week's average of 1,672.
- The unadjusted number of continued claims totaled 11,185, an increase of 426 from the previous week’s level of 10,759.
- For the same file week, the less volatile continued claims’ four-week moving average was 10,922, an increase of 36 from the previous week's average of 10,886.
Nationally, the advance figure for seasonally-adjusted initial claims for the week ending July 23 was 256,000, 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 249,250, an increase of 6,250 from the previous week's revised average. For the week ending July 16, the U.S. DOL reports the advance seasonally adjusted insured unemployment rate was 1.0%, unchanged from the previous week’s unrevised level.
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.
