Unemployment Insurance Weekly Claims Report (08/11/2011)

Source: Employment and Training Administration, Department of Labor

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA

In the week ending August 6, the advance figure for seasonally adjusted initial claims was 395,000, a decrease of 7,000 from the previous week's revised figure of 402,000. The 4-week moving average was 405,000, a decrease of 3,250 from the previous week's revised average of 408,250.

The advance seasonally adjusted insured unemployment rate was 2.9 percent for the week ending July 30, a 0.1 percentage point decrease from the prior week's unrevised rate of 3.0 percent.

The advance number for seasonally adjusted insured unemployment during the week ending July 30 was 3,688,000, a decrease of 60,000 from the preceding week's revised level of 3,748,000. The 4-week moving average was 3,718,750, a decrease of 15,250 from the preceding week's revised average of 3,734,000.

Read more: http://www.dol.gov/opa/media/press/eta/ui/eta20111190.htm

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395,000, below 400,000 for the first time in a while, I think.

need bigger gains im afraid

"395,000, below 400,000 for the first time in a while, I think."

I've heard that for like 3 weeks straight, but they keep revision the previous week's claims up. Still, this week is far enough under 400k that I think it will stick.

Either way, this is a pretty decent report. The numbers in isolation aren't super great, but it shows the employment picture is at least stable - and possibly improving. It's a reminder to the markets that we aren't actually falling off a cliff.

Crude oil trading at ~$80 a barrel, treasury bond rates at or near historic lows (good for mortgage interest rates).

but - thanks to the fucking GOP....

Source: US Department of Labor

SEASONALLY ADJUSTED DATA

In the week ending August 6, the advance figure for seasonally adjusted initial claims was 395,000, a decrease of 7,000 from the previous week's revised figure of 402,000. The 4-week moving average was 405,000, a decrease of 3,250 from the previous week's revised average of 408,250.

The advance seasonally adjusted insured unemployment rate was 2.9 percent for the week ending July 30, a 0.1 percentage point decrease from the prior week's unrevised rate of 3.0 percent.

The advance number for seasonally adjusted insured unemployment during the week ending July 30 was 3,688,000, a decrease of 60,000 from the preceding week's revised level of 3,748,000. The 4-week moving average was 3,718,750, a decrease of 15,250 from the preceding week's revised average of 3,734,000.


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

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What a crazy, 'managed expectaions' type oof world we live in when almost 400,000 American in one week lose their jobs, yet the news of this is greeted with rapturous cheers from the corporate shills at CNBC, Fox Business, CNN, etc etc.

Not happy w the site.
http://thestockmarketwatch.com/markets/today.aspx

I got a new job!

:pals:

Knock 'em dead!!!

Congratulations!!!!!

And stays there, THAT will be something worth pointing out. In the meantime it's still Way, Way too high.

Are new jobs being created?

What do these numbers mean?

polled by phone, usually by a land line. Most of the people who are counted as unemployed are the people still on the unemployment rolls. They make a halfhearted attempted at count the other unemployed, so the rolls look better at a quick glance. The Reagan administration changed the way the employment statistics were counted of-course.

The OP was about Unemployment Insurance Claims...you're talking about the Unemployment level and rate. Completely seperate. And it's barely true that "Most of the people who are counted as unemployed are the people still on the unemployment rolls". For the reference week of July 10-16, there were 14,428,000 people counted as unemployed and 7,569,860 people receiving UI benefits (state and federal) for 52.5% (numbers not seasonally adjusted). The numbers do NOT come from the Unemployment Insurance admin data. And keep in mind that many people who collect UI are collecting partial benefits because they have jobs and so would not be counted as Unemployed.

The Homeless are not included in the Unemployment level and rate because there's no reliable way to count them. The survey is a household survey: in person or by phone, and without a household, you fall out of a household survey.

And the only change under the Reagan administration was to include the military as Employed, that was mostly ignored, and they were removed again in 1994.

count of the homeless. So I answered his question with a we don't know cause no one is bothering to count. What are you prattling on about I don't know or care.

Also telling is the 63.9 percent of the civilian labor force -- or 153.2 million people -- that is working. That's the lowest ratio of employed-to-unemployed civilians since January 1984."

http://www.foxnews.com/politics/2011/08/05/when-good-news-is-bad-unemployment-rate-drops-as-workers-bolt-labor-force/#

63.9% is the Labor Force Participation Rate: That's the percent of the Adult Civilian Non-Institutional Population that is in the Labor Force. The Labor Force is the total number of Employed and Unemployed. So it's 139,296,000 Employed, 13,391,000 Unemployed, and 86,443,000 Not in the Labor Force for a total adult civilian non-institutional population of 239,671,000 (numbers are seasonally adjusted).