Initial Claims and Continued Claims Increase
OKLAHOMA CITY – The Oklahoma Employment Security Commission (OESC) reports that both four-week moving averages declined, while initial claims and continued claims increased for the week ending Mar. 5.
“Oklahoma’s continued success in our post-pandemic economic and workforce efforts is reinforced in our consistently declining claims volumes,” said Shelley Zumwalt, OESC Executive Director. “As Oklahoma’s economic strength continues to rank among the top in the nation, OESC remains focused on helping UI claimants find opportunities. We offer a wide variety of programs, including specific services for veterans. Our Veteran Priority Services are designed to help veterans develop new skills and enter new industries. Veterans can learn more about these services by visiting https://oklahoma.gov/oesc/veterans.html or their local OESC office.”
Weekly Unemployment Numbers for Week Ending Mar. 5
- For the file week ending Mar. 5, the number of initial claims, unadjusted, totaled 1,555, an increase of 116 from the previous week's level of 1,439.
- For the same file week, the less volatile initial claims’ four-week moving average was 1,584, a decrease of 41 from the previous week's average of 1,625.
- The number of continued claims totaled 12,005, an increase of 76 from the previous week’s level of 11,929.
- Continued claims’ four-week moving average was 12,290, a decrease of 171 from the previous week's average of 12,461.
Nationally, the advance figure for seasonally adjusted initial claims for the week ending March 12 was 214,000, a decrease of 15,000 from the previous week's revised level, the U.S. Department of Labor (U.S. DOL) reports. The four-week moving average was 223,000, a decrease of 8,750 from the previous week's revised average. For the week ending Mar. 5, the U.S. DOL reports the advance seasonally adjusted insured unemployment rate was 1.0%, 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.
