Dec. 21 (UPI) — The number of people filing for unemployment benefits for the first time last week increased modestly by 2,000 from the week before to a seasonally adjusted 205,000 applicants but still represented some of the lowest totals for 2023.
The total number of people filing for unemployment insurance for a given week is looked at for signs of stability in the workforce and economy. The number of those making initial claims for the week ending Dec. 9 was revised up 1,000 to 203,000.
First-time claims have not been at this level since mid-October when 200,000 filed for unemployment benefits. The initial weekly claims, though, continued to dodge the under-200,000 threshold, which has not been reached since Jan. 28 when 199,000 made first-time claims.
The four-week moving average for first-time claimants was 212,000, a decrease of 1,500 from the previous week’s revised average. The previous week’s average was revised up by 250 from 213,250 to 213,500. It was the lowest four-week moving average since Nov. 4.
The advance number for seasonally adjusted overall unemployment benefit filings for the week ending Dec. 9 was 1.865 million, a decrease of 1,000 from the previous week’s revised level. That week’s total was revised down 10,000 to 1.866 million.
The four-week moving average for overall filings was 1.878 million, an increase of 6,000 from the previous week’s revised average.
