First-time jobless claims hold steady at 5,560 for week

An estimated 5,560 initial claims were filed in the state during the week ending Saturday, compared to 5,596 claims filed the prior week, according to revised figures.

The newest jobless claims total is the fewest since the COVID-19 pandemic began affecting the economy in mid-March.

However, over the past eight weeks, first-time unemployment insurance claims are still averaging 6,087 per week, or nearly 300% more than were filed during the same eight-week period one year ago when the average was 1,556 initial claims.

Nationwide, initial claims increased last week by 4,000 to 870,000, according to seasonally adjusted data.

Another measure of the economy, insured claims, declined in the state by 1,094 to 109,813 filings for the week ending Sept. 12.

Insured, or continued claims, are recorded after someone files an initial claim and then files a continued claim after experiencing a week of unemployment.

The number insured filings is around the same number of jobless who began receiving additional assistance this week under a different federal program.

The Lost Wages Assistance program, which draws on funding from the Federal Emergency Management Agency, provides an additional $300 per week to individuals out of work from Aug. 1 to Sept. 5.

Otherwise, the maximum state benefit is $539 per week.

To receive the Lost Wages Assistance benefit, applicants must have received at least $100 in benefits each week of any benefit type and the job loss must be due to COVID-19.

In addition to regular state jobless benefits, the Oklahoma Employment Security Commission also processed 789 initial claims for Pandemic Unemployment Assistance, the federal program for self-employed and gig workers affected by COVID-19.

Oklahoma reported 13,123 continued PUA claims during the week ending Sept. 5, which was 426 more than processed the week prior.

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