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U.S. weekly unemployment insurance claims unchanged at 262,000 (2023)

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Unemployment insurance
Unemployment insurance
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June 21, 2023

New applications for U.S. unemployment insurance benefits were unchanged for the week ending June 10 at 262,000. The previous week's figure was revised up by 1,000 to 262,000. The four-week moving average as of June 10 increased 9,250 to 246,750 from the previous week's revised number. The average is the highest since November 20, 2021.

The number of continuing unemployment insurance claims, which refers to the number of unemployed workers who filed for benefits at least two weeks ago and are actively receiving unemployment benefits, rose 20,000 from the previous week's unrevised number to a seasonally adjusted 1.775 million for the week ending June 3. Reporting for continuing claims lags one week.

Unemployment insurance is a joint federal and state program that provides temporary monetary benefits to eligible laid-off workers who are actively seeking new employment. Qualifying individuals receive unemployment compensation as a percentage of their lost wages in the form of weekly cash benefits while they search for new employment.

The federal government oversees the general administration of state unemployment insurance programs. The states control the specific features of their unemployment insurance programs, such as eligibility requirements and length of benefits.

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