Per the US Department of Labor in the week ending August 27, the advance figure for seasonally adjusted initial claims was 232,000, a decrease of 5,000 from the previous week’s revised level. The previous week’s level was revised down by 6,000 from 243,000 to 237,000. The 4-week moving average was 241,500, a decrease of 4,000 from the previous week’s revised average. The previous week’s average was revised down by 1,500 from 247,000 to 245,500.
The advance seasonally adjusted insured unemployment rate was 1.0 percent for the week ending August 20, unchanged from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending August 20 was 1,438,000, an increase of 26,000 from the previous week’s revised level. The previous week’s level was revised down by 3,000 from 1,415,000 to 1,412,000. The 4-week moving average was 1,428,500, an increase of 4,500 from the previous week’s revised average. The previous week’s average was revised down by 750 from 1,424,750 to 1,424,000.
According to Eurostat in July 2022, the euro area seasonally-adjusted unemployment rate was 6.6%, down from 6.7% in June 2022 and from 7.7% in July 2021. The EU unemployment rate was 6.0% in July 2022, down from 6.1% in June 2022 and from 6.9% in July 2021. These figures are published by Eurostat, the statistical office of the European Union.
Eurostat estimates that 12.959 million men and women in the EU, of whom 10.983 million in the euro area, were unemployed in July 2022. Compared with June 2022, the number of persons unemployed decreased by 113 000 in the EU and by 77 000 in the euro area. Compared with July 2021, unemployment decreased by 1.854 million in the EU and by 1.576 million in the euro area.
Euro area annual inflation is expected to be 9.1% in August 2022, up from 8.9% in July according to a flash estimate from Eurostat, the statistical office of the European Union.
Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in August (38.3%, compared with 39.6% in July), followed by food, alcohol & tobacco (10.6%, compared with 9.8% in July), non-energy industrial goods (5.0%, compared with 4.5% in July) and services (3.8%, compared with 3.7% in July).