Initial clams for Unemployment Insurance benefits dropped by 12,000 to a seasonally adjusted 409,000, according to data released by the United States Department of Labor on Thursday, September 1st. There were no special factors influencing the data for the week ending August 27th.
Although the data suggests the job market is still struggling to strengthen, it is not indicative of a recession. Economists had forecast claims would fall to 410,000 last week, and claims for the week ending August 20th were revised up from 417,000 to 421,000. The newly released data comes one day in advance of the Employment Situation Report, which is due out on Friday, September 2nd. The claims data itself has no bearing on the employment report; however, it also showed little evidence businesses responded to recent financial and stock market turmoil by laying off large numbers of their workers.
The monthly reading by SimplyHired.com, which compiles Internet job postings from 30,000 employment websites, found U.S. job openings were up 4.5 percent from July to August, suggesting employers may be ready to increase hiring. SimplyHired found thirteen industries had increased job openings, and five had decreased job openings. The site found additional job openings in agriculture, retail, finance, accounting, and in science related fields such as lab technicians. Among the industries with decreased openings were the legal field, real estate, and the military.
However, there was one potentially worrisome sign for the economy; United States worker productivity fell this spring at a faster pace than had been expected. At the same time labor costs rose at a faster pace. The declining productivity and rising costs could pose a threat to corporate profits; however it may also be a sign workers have reached a limit after years of what amounts to being forced to do more with less when their companies down sized or laid off workers.
UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT Data for Week Ending August 27th
SEASONALLY ADJUSTED DATA
For the week ending August 27, the advance figure for seasonally adjusted initial claims was 409,000, a decrease of 12,000 from the previous week’s revised figure of 421,000. The four week moving average was 410,250, an increase of 1,750 from the previous week’s revised average of 408,500.
The advance seasonally adjusted insured unemployment rate was 3.0 percent for the week ending August 20, unchanged from the prior week’s revised rate of 3.0 percent.
The advance number for seasonally adjusted insured unemployment for the week ending August 20 was 3,735,000, a decrease of 18,000 from the preceding week’s revised level of 3,753,000. The four week moving average was 3,726,000, a decrease of 3,250 from the preceding week’s revised average of 3,729,250.
The advance number of actual initial claims under state programs, unadjusted, totaled 334,372 for the week ending August 27, a decrease of 10,498 from the previous week. There were 383,135 initial claims in the comparable week in 2010.
The advance unadjusted insured unemployment rate was 2.8 percent during the week ending August 20, unchanged from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 3,462,574, a decrease of 95,108 from the preceding week. A year earlier, the rate was 3.3 percent and the volume was 4,125,414.
The total number of people claiming benefits in all programs for the week ending August 13 was 7,336,276, an increase of 45,531 from the previous week.
Extended benefits were available in Alabama, California, Colorado, Connecticut, Delaware, the District of Columbia, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Washington, West Virginia, and Wisconsin for the week ending August 13.
Initial claims for UI benefits by former Federal civilian employees totaled 1,743 in the week ending August 20, a decrease of 215 from the prior week. There were 2,742 initial claims by newly discharged veterans, an increase of 203 from the preceding week.
There were 26,012 former Federal civilian employees claiming UI benefits for the week ending August 13, a decrease of 766 from the previous week. Newly discharged veterans claiming benefits totaled 38,032, a decrease of 99 from the prior week.
States reported 3,118,042 persons claiming EUC (Emergency Unemployment Compensation) benefits for the week ending August 13, an increase of 31,261 from the prior week. There were 4,556,751 claimants in the comparable week in 2010. EUC weekly claims include first, second, third, and fourth tier activity.
The highest insured unemployment rates in the week ending August 13 were in Puerto Rico (5.2), Pennsylvania (4.2), New Jersey (3.9), Alaska (3.8) , California (3.8), Connecticut (3.8), Oregon (3.7), Rhode Island (3.7), Nevada (3.6) and Wisconsin (3.3).
The largest increases in initial claims for the week ending August 20 were in Pennsylvania (+1,904), Puerto Rico (+1,453), Oregon (+698), Rhode Island (+634), and California (+615) while the largest decreases were in Massachusetts (-1,627), South Carolina (-1,058), Georgia (-978), Nevada (-695), and Florida (-670 ).
Tier-specific EUC data
Information on the EB program
State Detail Prior Week
UI Claims Series 1967 to Current
Unemployment Rates for States
Career One Stop State Locator
The Arizona Unemployment Insurance Program
Disaster Unemployment Assistance (Special programs for individuals in disaster areas declared by the President.)
Legislative and AZUI Contact Information For Arizona Residents and UI Recipients
Veterans Services in Arizona
Disabled Workers Services in Arizona
Mature Workers Services in Arizona
Youth Services in Arizona
Job Seekers Assistance in Arizona
Like to write? Have local or national insight or inside information? knotmove.com is searching for writers on a variety of topics ranging from book publishing to skateboarding. Check out our list of local or national titles and apply for one that fits your interests. Don’t see a topic you like? Change the location on the upper left and/or the category on the upper right or even suggest a topic.
Also, be sure to use this link when you apply, as I’ll make an extra $50 if you’re accepted as an Examiner. Why not apply to knotmove.com? Click on this link for more info! Write for knotmove.com!