Today the United States Department of Labor, released their News Release on Unemployment Insurance Weekly Claims for the week ending May 3, 2014. This report speaks to the weekly national unemployment activity. DOL News Release provides information and analysis on the national unemployment claims.
After revisions to the previous week claims and monthly average the overall unemployment claims came in at 319,000 which is a decrease of 26,000 claims from the previous week's revised level. This moved the 4-week average up to 324,750. The labor department news release identified there were no special factors impacting the initial claims.
For the week ending April 26, 2014 the states that had the largest weekly increases for initial claims were New York with 23,523 initial claims due to unexpected layoffs in the several industries with Rhode Island following with an increase of 3,983 claims due to layoffs in education and construction industries. Michigan lead all states with a reduction of 6,642 unemployment claims thanks to fewer layoffs in wholesale trade followed by New Jersey with a decrease of 2,269 initial claims thanks to few layoffs than anticipated in several sectors.
According to this Department of Labor report for the week ending April 19, 2014 there were 2,832,690 people claiming unemployment benefits. This represents a decrease of increase of 10,353 claims from the prior week. A year ago there were 4,866,804 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 May 8, 2014. The next national Department of Labor weekly unemployment claims report should be released on May 15, 2014 and will measure unemployment claims activity for the earlier week.
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