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Government Reports Jump in Weekly Unemployment Claims

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Yesterday the United States Department of Labor, released their News Release on Unemployment Insurance Weekly Claims for the week ending June 28, 2014. This report speaks to the weekly national unemployment activity by reporting 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.

After revisions to the previous week claims and monthly average the overall unemployment claims for the week came in at 315,000 claims which is an increase of 2,000 claims from the previous week's revised level. The 4-week moving unemployment claims average was 315,000 claims which is in increase of 250 claims from the previous week's revised average.

For the week ending June 21, 2014 the states that had the largest weekly increases for initial claims were New Jersey with 3,235 initial claims due to layoffs in educational services, accommodation and food service, transportation and warehousing and public administration services with Connecticut following with an increase of 1,864 unemployment claims. Pennsylvania lead all states with a reduction of 1,593 unemployment claims due to fewer than expected layoffs in transportation and financial services industries followed by New York with a decrease of 1,430 initial claims.

According to this Department of Labor report for the week ending June 14, 2014 there were 2,469,219 people claiming unemployment benefits. This represents a increase of claims from the prior week by 27,744 claims. One year ago there were 4,551,016 people claiming unemployment benefits.

While this News Release provides a snapshot of weekly and 4 week running average 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 July 3, 2014. The next national Department of Labor weekly unemployment claims report will be released on July 10, 2014 and will measure unemployment claims activity for the earlier week.

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