Virginia’s Latest Unemployment Insurance Weekly Initial Claims at 1,937; Continued Claims at 16,893

RICHMOND— Virginia Works announced today that 1,937 unemployment insurance weekly initial claims were filed during the week ending August 03, 2024, which is 27.8 percent lower than last week’s 2,682 claims and 23.1 percent lower than the comparable week of last year (2,520).  Nearly 86 percent of claimants self-reported an associated industry; of those reported, the top five industries (61 percent) were Administrative and Support and Waste Management (239); Professional, Scientific, and Technical Services (229); Health Care and Social Assistance (182); Retail Trade (169); and Manufacturing (166).

Continued weeks claims (16,893) were 0.2 percent higher than last week (16,858) and were 23.5 percent higher than the comparable week of last year (13,678). Nearly 93 percent of claimants self-reported an associated industry; of those reported, the top five industries (58 percent) were Professional, Scientific, and Technical Services (2,505); Administrative and Support and Waste Management (2,209); Health Care and Social Assistance (1,684); Accommodation and Food Services (1,411); and Manufacturing (1,403).

Significant Layoffs and Announcements are available at the following websites:

WARN Notices | Virginia Employment Commission

Announcements | Virginia Economic Development Partnership

Virginia Continued Weeks Claimed

A person who has already filed an initial claim and who has experienced a week of unemployment files a continued claim to claim benefits for that week of unemployment. On a weekly basis, continued claims reflect a good approximation of the current number of insured unemployed workers filing for UI benefits, and are a good indicator of labor market conditions. While continued claims are not a leading indicator, they provide confirming evidence of the direction of the economy.

The color-coded map below shows the distribution of this week’s continued claims for Virginia’s counties and cities.

Yellow represents low numbers, while progressively darker shades transitioning from yellow to green and dark green signify increasing numbers of continued claims. The legend located at the bottom provides the color spectrum and its corresponding count of continued claims.

Initial Claims for All States

In the week ending August 3, the advance figure for seasonally adjusted initial claims was 233,000, a decrease of 17,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 249,000 to 250,000. The advance number of actual initial claims under state programs, unadjusted, totaled 203,054 in the week ending August 3, a decrease of 13,589 (or 6.3 percent) from the previous week. The seasonal factors had expected an increase of 1,251 (or 0.6 percent) from the previous week. There were 227,917 initial claims in the comparable week in 2023. 

All States Initial Weeks Claimed

An initial claim is a claim filed by an unemployed individual after a separation from an employer. The count of U.S. initial claims for unemployment insurance is a leading economic indicator because it is an indication of emerging labor market conditions in the country.

Below is a color-coded map illustrating the percentage change in initial claims from last week to this week across all states nationwide, derived from the latest U.S Department of Labor Weekly Claims News Release (https://www.dol.gov/ui/data.pdf). Green denotes a reduction in continued claims from last week, thus showing improvement, with progressively darker shades of green signifying greater improvement. Purple denotes an increase in continued claims from last week, thus showing deterioration, with progressively darker shades of purple signifying greater deterioration. Very light green, purple or white indicates minimal change from last week. The legend at the bottom provides the color spectrum along with its corresponding percentage value.