Both Four-Week Moving Averages Decline Consecutively for a Month
OKLAHOMA CITY – The Oklahoma Employment Security Commission (OESC) reports that initial claims and both four-week moving averages declined for the week ending May 7, while continued claims increased slightly.
“We saw a significant decrease in initial claims reported for the week ending May 7, a sign of the economy’s continued stability in our state,” said OESC Executive Director Shelley Zumwalt. “OESC remains committed to maintaining a strong workforce that supports the needs of employers, businesses and individuals in communities across Oklahoma. For job seekers looking to re-enter the workforce, we provide a variety of services, including training programs, job fairs and hiring events. Follow our social media channels for information regarding upcoming employment opportunities.”
Starting the week of May 30, OESC will no longer send weekly releases, including unemployment numbers. These numbers will continue to be publicly available and posted on the website every Thursday at oklahoma.gov/oesc/labor-market/initial-and-continued-claims.
Weekly Unemployment Numbers for Week Ending May 7
- For the file week ending May 7, the number of initial claims, unadjusted, totaled 1,714, a decrease of 521 from the previous week's level of 2,235.
- For the same file week, the less volatile initial claims’ 4-week moving average was 1,914, a decrease of 55 from the previous week's average of 1,969.
- The number of continued claims totaled 11,398, an increase of 545 from the previous week’s level of 10,853.
- Continued claims’ four-week moving average was 11,201, a decrease of 117 from the previous week's average of 11,318.
Nationally, the advance figure for seasonally adjusted initial claims for the week ending May 14 was 218,000, an increase of 21,000 from the previous week's revised level, the U.S. Department of Labor (U.S. DOL) reports. The four-week moving average was 199,500, an increase of 8,250 from the previous week's revised average. For the week ending May 7, the U.S. DOL reports the advance seasonally adjusted insured unemployment rate was 0.9%, a decrease of .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.
