The national Initial Jobless Claims fell to the lowest level in 2009. This reflects a decline for the third week in a row, which hasn't happen yet this year. Colorado has shown 4 weeks in a row of decreases and also reports the lowest number of Initial Jobless Claims for 2009.
When examining the Continuing Claims, which has been troublesome on the national stage, they dropped a whopping 642,000 claims to 6,273,000. This level would dip down to the April 18 levels. Colorado saw an increase in Continuing Claims, but because of reporting irregularities, the 4-week moving average seems to be a better indicator. In Colorado, the 4-week moving average for Continuing Claims dropped to 75,469, which represents the lowest level since April 25 of this year.
When looking at the states that reported increases and decreases of more than 1,000, the increases have a slight edge of 9 to 7. But wow did both Michigan and New York see large increases in Initial Claims. Michigan reported an increase of 12,144 and said that most industries posted increases. New York reported an increase of 8,913 with layoffs in the transportation and service industries. New Jersey reported the largest decrease with 5,030 fewer claims this week. The decrease was attributed to a shorter workweek, as well as fewer layoffs in the transportation, warehousing, trade, and service industries.
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