Trust fund reaches approximately $335 million
OKLAHOMA CITY – The Oklahoma Employment Security Commission (OESC) reports that unemployment claims declined across all reporting categories for the week ending May 21.
“Oklahoma continues to stand out as a leader for economic strength and recovery, and we are proud to see claims decreases in every reporting category,” said OESC Executive Director Shelley Zumwalt. “Additionally, Oklahoma’s UI Trust Fund has reached approximately $335M, further solidifying it as one of the most stable funds in the nation. Our state’s responsible and consistent management of the fund allows OESC to continue providing crucial services for Oklahomans.”
Weekly Unemployment Numbers for Week Ending May 21
- For the file week ending May 21, the number of initial claims, unadjusted, totaled 1,818, a decrease of 72 from the previous week's level of 1,890.
- For the same file week, the less volatile initial claims’ 4-week moving average was 1,914, a decrease of 28 from the previous week's average of 1,942.
- The number of continued claims totaled 10,189, a decrease of 1,077 from the previous week’s level of 11,266.
- Continued claims’ four-week moving average was 10,927, a decrease of 236 from the previous week's average of 11,163.
Nationally, the advance figure for seasonally adjusted initial claims for the week ending May 28 was 200,000, a decrease of 11,000 from the previous week's revised level, the U.S. Department of Labor (U.S. DOL) reports. The four-week moving average was 206,500, a decrease of 500 from the previous week's revised average. For the week ending May 21, the U.S. DOL reports the advance seasonally adjusted insured unemployment rate was 0.9%, a decrease 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.
