Unemployment Insurance Weekly Claims Report {01/06/2011}

Source: Department of Labor, Employment and Training Administration

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA

In the week ending Jan. 1, the advance figure for seasonally adjusted initial claims was 409,000, an increase of 18,000 from the previous week's revised figure of 391,000. The 4-week moving average was 410,750, a decrease of 3,500 from the previous week's revised average of 414,250.

The advance seasonally adjusted insured unemployment rate was 3.3 percent for the week ending Dec. 25, unchanged from the prior week's unrevised rate of 3.3 percent.

The advance number for seasonally adjusted insured unemployment during the week ending Dec. 25 was 4,103,000, a decrease of 47,000 from the preceding week's revised level of 4,150,000. The 4-week moving average was 4,122,500, a decrease of 2,750 from the preceding week's revised average of 4,125,250.

Read more: http://www.dol.gov/opa/media/press/eta/ui/eta20110004.htm

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This information is released every Thursday at 8:30 a.m.

so much for holiday spending....

Source: Bloomberg


Jan 6, 2011

Fewer Americans Filed Jobless Claims Over Past Month

By Shobhana Chandra

Fewer Americans filed claims for unemployment insurance payments over the past month, indicating the labor market is improving.

The average number of applications for jobless benefits over the past four weeks dropped to 410,750, the lowest level since July 2008, Labor Department figures showed today in Washington. Claims for the week ended Jan. 1 rose by 18,000 to 409,000, in line with the median forecast of economists surveyed by Bloomberg News.

Firings have been waning in recent weeks, a necessary step toward gains in hiring that will help boost consumer spending, which accounts for 70 percent of the economy. A report tomorrow is projected to show employers added to payrolls in December for a third month as the U.S. expansion gained speed.

“The recovery in the labor market is continuing to move along at a gradual pace,” said Omair Sharif, an economist at RBS Securities Inc. in Stamford, Connecticut, who forecast claims would rise to 410,000. “Employers are getting to the point where they are becoming a little more confident about the strength of the recovery.”



Read more: http://www.bloomberg.com/news/2011-01-06/fewer-americans-filed-jobless-insurance-claims-over-past-month.html

and it's taking it's own sweet time to turn around. It's nice to see some improvement but I really hope it speeds up soon.

As soon as the tens of thousands of seasonal workers for the Christmas holiday are let go we'll be back to the new normal again.

It softens or eliminates the statistical "noise" from regular seasonal fluctuations.

Jobs that were created because of all the great things this administration is doing. The numbers are flawed and misleading. Bush tried to get the labor department to re-classify fast food jobs as manufacturing jobs so I wouldn't be surprised if the same type of deception is going on now.

You know, people who still can't find jobs but have exhausted their benefits?

Do I get a prize for helping the economy?

since these figures are for initial claims (those who just now lost their jobs).

And that's a good thing.