New data released by the Bureau of Economic Analysis on September 29th indicates the economy is gaining new jobs, but at a rate to weak to assist the more than fourteen million unemployed workers in the United States in finding a job. The economy grew at a slightly faster pace, 1.3 percent as opposed to the previous estimate of 1.0 percent, than had been expected.
Data released September 29 by the United States Department of Labor offers a slightly upbeat picture of new claims filed for unemployment insurance . The number of workers who filed initial claims for benefits fell to 391,000 for the week ending September 24th.. This number represents a drop of 37,000 from the prior week’s number of 428,000.
However, some economic analysts are urging caution with interpretations of the latest unemployment data. They claim the data may have skewed by seasonal adjustments, and that the truer picture of the job market is provided by the date’s four week moving average. That number stands at 417,000 this week, and has been above 400,000 for the past six weeks.
More than forty percent of U.S. job seekers claiming benefits have been unemployed for at least six months, with more than a third of them out of work for more than a year. When the estimated number of job seekers who have given up looking for work is included, the number of Americans who are without jobs is closer to twenty five million.
Most economists expect growth will pick up only slightly in the second half of 2011 and then continue at a weak pace through 2012. The National Association for Business Economics predicts total growth for 2011 will be just 1.7 percent. The expected growth of just 1.5 percent for 2012 won’t be enough to reduce the unemployment significantly, said economist Paul Dales of Capital Economics.
Unemployment Insurance Weekly Claims Report Data for Week Ending September 24, 2011
SEASONALLY ADJUSTED DATA
In the week ending September 24, the advance figure for seasonally adjusted initial claims was 391,000, a decrease of 37,000 from the previous week’s revised figure of 428,000. The 4-week moving average was 417,000, a decrease of 5,250 from the previous week’s revised average of 422,250.
The advance seasonally adjusted insured unemployment rate was 3.0 percent for the week ending September 17, unchanged from the prior week’s unrevised rate.
The advance number for seasonally adjusted insured unemployment during the week ending September 17 was 3,729,000, a decrease of 20,000 from the preceding week’s revised level of 3,749,000. The 4-week moving average was 3,743,000, a decrease of 4,500 from the preceding week’s revised average of 3,747,500.
The advance number of actual initial claims under state programs, unadjusted, totaled 324,940 in the week ending September 24, a decrease of 28,880 from the previous week. There were 372,551 initial claims in the comparable week in 2010.
The advance unadjusted insured unemployment rate was 2.5 percent during the week ending September 17, a decrease of 0.1 percetage point from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 3,187,921, a decrease of 118,799 from the preceding week. A year earlier, the rate was 3.0 percent and the volume was 3,810,921.
The total number of people claiming benefits in all programs for the week ending September 10 was 6,984,897, an increase of 95,242 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 during the week ending September 10.
Initial claims for UI benefits by former Federal civilian employees totaled 2,328 in the week ending September 17, an increase of 767 from the prior week. There were 2,903 initial claims by newly discharged veterans, an increase of 411 from the preceding week.
There were 25,039 former Federal civilian employees claiming UI benefits for the week ending September 10, an increase of 1,517 from the previous week. Newly discharged veterans claiming benefits totaled 38,362, an increase of 996 from the prior week.
States reported 3,036,635 persons claiming EUC (Emergency Unemployment Compensation) benefits for the week ending September 10, an increase of 39,376 from the prior week. There were 3,965,778 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 September 10 were in Puerto Rico (4.5), Pennsylvania (3.9), Alaska (3.7), New Jersey (3.7), California (3.5), Nevada (3.4), Oregon (3.4), Connecticut (3.3), Arkansas (3.1), Rhode Island (3.1), and the Virgin Islands (3.1).
The largest increases in initial claims for the week ending September 17 were in New York (+4,389), Georgia (+3,038), Pennsylvania (+2,483), Texas (+2,077), and Ohio (+2,014) while the largest decreases were in Puerto Rico(-905), Oregon (-579), Maryland (-553), Kentucky (-501), and Nevada
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 in locations declared by the President as disaster areas.)
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
Who Is Counted as Unemployed?
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