US initial jobless claims ticked up in the week ended June 12 after steadily declining since the week of April 24 to post-pandemic lows, the US Department of Labor reported. Initial claims increased by 37,000 in the week ended June 12 to a total of 412,000 (seasonally adjusted). A lion’s share of the increases were in two states: California, up 15,712, and Pennsylvania, up 21,590. The state totals were not seasonally adjusted.
CNBC noted that economists surveyed by Dow Jones expected 360,000 new claims. However, the White House and others said weekly numbers can be volatile and claims are trending downward overall.
The four-week moving average of claims fell by 8,000 to a total of 395,000. It represents the lowest average since the pre-pandemic reading of 225,500 on March 14, 2020.
Meanwhile, Pandemic Unemployment Assistance claims, which are not seasonally adjusted, jumped by 46,722 to a total of 118,052 in the week ended June 12. PUA claims had risen by 17,891 in Maryland, the state with the largest increase. The PUA program includes self-employed workers, among others.