Colorado saw an increase in the initial jobless claims of 1,796 claims to 5,932 this week. On the national level, initial claims rose 30,000 to 554,000. The national claims stayed below the the 4-week moving average while the Colorado claims spiked above the 4-week moving average.
When examining the Continuing Claims, the National Claims continue to see a gradual drop. The Claims peaked at the end of May at 6,820,000 Claims and this week the Continuing Claims stand at 6,225,000. On the state level, Colorado continues to see a gradual slide as well. The 4-week moving average for Colorado Continuing Claims peaked towards the end of May at 77,436 Claims and now stands at 75,385. The Colorado weekly numbers seem to have a reporting anomaly and the 4-week moving average smooths out this issue.
When examining all of the states for increases or decreases of more than 1,000 Initial Claims, this week we saw a surge in states with an increase of more than 1,000. Though most states are reporting this increase due to a return to a five day workweek. Twenty three states saw such an increase. New York reported the largest increase with 12,504 new claims. New York attributes the increase to layoffs in the construction, service, and transportation industries. The state that saw the largest decrease was Michigan. Michigan reported a decrease of 6,648 claims and commented that fewer layoffs were recorded throughout most industries.
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