Today the United States Department of Labor (DOL), released their advance News Release on Unemployment Insurance Weekly Claims for the week ending August 7, 2014. The report further suggests economic recovery recovery as weekly jobless claims came in lower than the previous week. The News Release report speaks to the national unemployment activity by reporting weekly on the number of Americans filing for unemployment benefits. DOL News Release provides information and analysis on the weekly national unemployment claims. This weeks report has unemployment benefit claims falling for the fourth week in a row.
After revisions to the previous week claims and monthly average the overall unemployment claims for the week came in at 289,000 claims which is an decrease of 14,000 claims from the previous week's revised level of 303,000. The 4-week unemployment claims moving average was 293,500 claims which is a decrease of 8,500 claims from the previous week's revised average.
For the week ending July 26, 2014 the states that had the largest weekly increases for initial claims were Washington with 426 initial claims. New Jersey followed with an increase of 346 claims. Michigan lead all states with a reduction of 3,773 unemployment claims due to fewer than expected layoffs in the wholesale trade industry followed by Ohio with a decrease of 2,701 initial claims due to fewer claims in manufacturing and transportation industry.
According to this Department of Labor report for the week ending July 19, 2014 there were 2,576,492 people claiming unemployment benefits. This represents a decrease of 41,623 claims from the prior week. One year ago there were 5,514,382 people claiming unemployment benefits.
While this News Release provides a snapshot of weekly and monthly averages of initial unemployment claims and does not consider the long term unemployed, employer hiring or those who have dropped out of the labor force. To view the full News Release go to Unemployment Insurance Weekly Claims released August 7, 2014. The next national Department of Labor weekly unemployment claims report will be released on August 14, 2014 and will measure unemployment claims activity for the earlier week.
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