Unemployment Insurance claims report January 17, 2013, Total claiming benefits in all programs increased 465547, Top 3 increases NY GA NC over 66K
“With a 63.7% labor force participation, “conditions in the labor market are considerably worse than indicated” in July’s report”…economist Joshua Shapiro, WSJ August 3, 2012
“We tried our plan—and it worked. That’s the difference. That’s the choice in this election. That’s why I’m running for a second term.”…Barack Obama
“Truisms are true, hold on to that! The solid world exists, its laws do not change. Stones are hard, water is wet, objects unsupported fall towards the earth’s centre. With the feeling that he was speaking to O’Brien, and also that he was setting forth an important axiom, he wrote:
Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984”
Talk about creative accounting and seasonal adjustments.
The alleged decrease of 37,000 initial claims from the prior week makes zero reality sense.
From the US Labor Dept. January 17, 2013.
“UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT
SEASONALLY ADJUSTED DATA”
“SEASONALLY ADJUSTED DATA
In the week ending January 12, the advance figure for seasonally adjusted initial claims was 335,000, a decrease of 37,000 from the previous week’s revised figure of 372,000. The 4-week moving average was 359,250, a decrease of 6,750 from the previous week’s revised average of 366,000.
The advance seasonally adjusted insured unemployment rate was 2.5 percent for the week ending January 5, an increase of 0.1 percentage point from the prior week’s unrevised rate. The advance number for seasonally adjusted insured unemploymentduring the week ending January 5 was 3,214,000, an increase of 87,000 from the preceding week’s revised level of 3,127,000. The 4-week moving average was 3,195,750, a decrease of 6,000 from the preceding week’s revised average of 3,201,750.
The advance number of actual initial claims under state programs, unadjusted, totaled 555,708 in the week ending January 12, an increase of 2,360 from the previous week. There were 525,422 initial claims in the comparable week in 2012.
The advance unadjusted insured unemployment rate was 3.0 percent during the week ending January 5, an increase of 0.1 percentage point from the prior week’s unrevised rate. The advance unadjusted number for persons claiming UI benefits in state programs totaled 3,850,441, an increase of 170,067 from the preceding week. A year earlier, the rate was 3.2 percent and the volume was 4,109,127.
The total number of people claiming benefits in all programs for the week ending December 29 was 5,821,966, an increase of 465,547 from the previous week. There were 7,826,846 persons claiming benefits in all programs in the comparable week in 2011.”
STATES WITH AN INCREASE OF MORE THAN 1,000
|State||Change||State Supplied Comment|
|NY||+37,189||Layoffs in the transporation, construction, and educational service industries.|
|GA||+15,354||Layoffs in the manufacturing, administrative and support service, construction, and healthcare industries.|
|NC||+13,606||Layoffs in the textile, business service, construction, electronic, furniture and fixtures, rubber and plastic products, lumber and wood products, transportation equipment, food services, metal, mining, service, healthcare service, engineering, accounting, research, amusement and recreation, general merchandise stores, and apparel and accessory industries.|
|CA||+8,691||Layoffs in the service industry as well as agriculture, forestry, and fishing.|
|TX||+8,669||Layoffs in the transportation and warehousing, and manufacturing industries.|
|SC||+8,020||Layoffs in the textile and manufacturing industries.|
|AL||+7,037||Increase is a result of processing claims from prior week when offices were closed due to the holiday. Majority of increase were in the transportation, textile, manufacturing, and construction industries.|
|TN||+4,397||Layoffs in the administrative and support service, textile, contractors, electrical equipment, and construction industries.|
|VA||+3,289||Layoffs in the manufacturing industry.|
|FL||+2,501||Layoffs in the construction, agriculture, trade, retail and service industries.|
|MO||+1,739||Layoffs in the construction, administrative service, and retail industries.|
|ME||+1,594||Layoffs in the construction, manufacturing, and accommodation and food service industires.|
The top 3 increases in NY, GA and NC total over 66,000.