Category Archives: Employment

Jobless claims, May 13, 2010, US Department of Labor, Seasonally adjusted initial claims decrease 4000, Seasonally adjusted insured unemployment rises 12000, Emergency Unemployment Compensation claims decrease

Jobless claims, May 13, 2010, US Department of Labor

From the US Department of Labor, May 13, 2010.
“UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

          SEASONALLY ADJUSTED DATA

In the week ending May 8, the advance figure for seasonally adjusted initial claims was 444,000, a decrease of 4,000 from the previous week’s revised figure of 448,000. The 4-week moving average was 450,500, a decrease of 9,000 from the previous week’s revised average of 459,500.

The advance seasonally adjusted insured unemployment rate was 3.6 percent for the week ending May 1, unchanged from the prior week’s unrevised rate of 3.6 percent.

The advance number for seasonally adjusted insured unemployment during the week ending May 1 was 4,627,000, an increase of 12,000 from the preceding week’s revised level of 4,615,000. The 4-week moving average was 4,639,500, a decrease of 14,750 from the preceding week’s revised average of 4,654,250.

The fiscal year-to-date average of seasonally adjusted weekly insured unemployment, which corresponds to the appropriated AWIU trigger, was 5.174 million. 

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 407,267 in the week ending May 8, an increase of 11,132 from the previous week. There were 570,412 initial claims in the comparable week in 2009.

The advance unadjusted insured unemployment rate was 3.5 percent during the week ending May 1, a decrease of 0.1 percentage point from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 4,515,632, a decrease of 140,708 from the preceding week. A year earlier, the rate was 4.6 percent and the volume was 6,191,149.
Extended benefits were available in Alabama, Alaska, Arizona, California, Colorado, Connecticut, Delaware, the District of Columbia, Georgia, Idaho, Illinois, Indiana, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, Tennessee, Texas, Vermont, Virginia, Washington, West Virginia, and Wisconsin during the week ending April 24.

Initial claims for UI benefits by former Federal civilian employees totaled 1,300 in the week ending May 1, an increase of 86 from the prior week. There were 2,289 initial claims by newly discharged veterans, a decrease of 97 from the preceding week.

There were 18,944 former Federal civilian employees claiming UI benefits for the week ending April 24, a decrease of 267 from the previous week. Newly discharged veterans claiming benefits totaled 36,699, a decrease of 500 from the prior week.

States reported 5,137,385 persons claiming EUC (Emergency Unemployment Compensation) benefits for the week ending April 24, a decrease of 216,874 from the prior week. There were 2,156,516 claimants in the comparable week in 2009. EUC weekly claims include first, second, third, and fourth tier activity.

The highest insured unemployment rates in the week ending April 24 were in Alaska (6.6 percent), Puerto Rico (6.3), Oregon (5.8), Nevada (5.1), California (4.9), Pennsylvania (4.8), Wisconsin (4.8), Montana (4.7), North Carolina (4.6), Rhode Island (4.6), Connecticut (4.5), and Idaho (4.5).

The largest increases in initial claims for the week ending May 1 were in New York (+4,021), Kentucky (+1,015), Pennsylvania (+773), Illinois (+611), and Tennessee (+609), while the largest decreases were in California (-18,546), Massachusetts (-3,628), Indiana (-3,242), Michigan (-1,748), and Florida
(-1,291).”

 http://www.dol.gov/opa/media/press/eta/ui/current.htm

Unemployed data, Facts, May 8, 2010, Unemployment rate rises to 9.9 %, Employment rises 290,000, Emergency Unemployment Compensation rises 153,786

Unemployed data, Facts, May 8, 2010, Unemployment rate rises to 9.9 %

Three things happened last week that caused me to ponder what is going on with our economy.

The stock market plunged.

Confusing numbers from the government about employment and unemployment were released.

Many colleges were winding down their academic year. With this comes millions of young adults entering the work force part time or full time. What kind of job market will they encounter?

Consider these numbers and data released last week by the Federal Government.

  • Nonfarm payroll employment rose by 290,000 in April.
  • The unemployment rate edged up to 9.9 percent.
  • In April, the number of unemployed persons was 15.3 million.
  • The rate had been 9.7 percent for the first 3 months of this year.
  • The number of long-term unemployed (those jobless for 27 weeks and over) con-tinued to trend up over the month, reaching 6.7 million.
  • In April, 45.9 percent of unemployed persons had been jobless for 27 weeks or more.
  • Among the unemployed, the number of reentrants to the labor force rose by 195,000 over the month.
  • About 2.4 million persons were marginally attached to the labor force in April, compared with 2.1 million a year earlier.
  • They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey.
  • Among the marginally attached, there were 1.2 million discouraged workers in April, up by 457,000 from a year earlier.
  • Discouraged workers are persons not currently looking for work because they believe no jobs are available for them.
  • Federal government employment was up in April, reflecting the hiring of 66,000 temporary workers for the decennial census.
  • UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT: In the week ending May 1, the advance figure for seasonally adjusted initial claims was 444,000, a decrease of 7,000 from the previous week’s revised figure of 451,000.
  • States reported 5,354,259 persons claiming EUC (Emergency Unemployment Compensation) benefits for the week ending April 17, an increase of 153,786 from the prior week.

 

Sources:

http://www.bls.gov/news.release/empsit.nr0.htm

http://www.dol.gov/opa/media/press/eta/ui/current.htm

No wonder the stock market has the jitters.