Employment Securities Commission sees decline in claims

OKLAHOMA CITY – The Oklahoma Employment Security Commission (OESC) reports a steady decline in continued unemployment claims with the continued claims four-week moving average dropping for the 25th consecutive week, while initial claims decreased by nearly 30%.

“The persistent decline in continued claims for more than six months is still trending in the right direction,” said OESC Executive Director Shelley Zumwalt. “Initial claims have fluctuated throughout December, and the agency is keeping an eye on any noteworthy changes in this area. Additionally, we continue to closely monitor any announcements coming out of Washington regarding a new

stimulus package and staff stands ready to execute on any programs or benefits the agency is directed to implement.”

Weekly Unemployment Numbers for Week Ending Dec. 12

For the week ending Dec. 12, the advance number of initial claims, unadjusted, totaled 4,352, a decrease of 1,816 from the previous week’s revised level of 6,168.

Initial claims’ fourweek moving average was 4,974, a decrease of 66 from the previous week’s revised average of 5,040.

The advance unadjusted number of continued claims totaled 37,313, a decrease of 9,871 from the previous week’s revised level of 47,184.

Continued claims’ four-week moving average was 44,689, a decrease of 3,559 from the previous week’s revised average of 48,248.

Nationally, the advance figure for seasonally adjusted initial claims during the same period was 885,000, an increase of 23,000 from the previous week’s revised level, the U.S. Department of Labor reports. The four-week moving average was 812,500, an increase of 34,250 from the previous week. For the week ending Dec. 5, DOL reports the advance seasonally adjusted insured unemployment rate was 3.8%, a decrease of 0.1 percentage point from the previous week’s revised 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.