Today the United States Department of Labor (DOL), released their advance News Release on Unemployment Insurance Weekly Claims for the week ending August 23, 2014. This weeks report continues to encourage economic recovery as the weekly jobless claims report of 298,000 continues to decline. The News Release report gives an accounting of the national unemployment activity by reporting weekly on the number of Americans filing for unemployment benefits. Lower unemployment is considered a market indicator of economic growth. DOL News Release provides information and analysis on the weekly national unemployment claims.
After revisions to the previous week claims and monthly average the overall unemployment claims this week unemployment claims decreased by 1,000 from the previous week's revised level of 299,000 claims. The 4-week unemployment claims moving average was 299,750 claims which is a decrease of 1,250 claims from the previous week's revised average.
For the week ending August 16, 2014 the states that had the largest weekly increases for initial claims was Georgia with 874 initial claims. Alabama followed with an increase of 874 claims. California lead all states for the second week in a row with a reduction of 8,771 unemployment claims followed by Florida with a decrease of 1,462 initial claims due to fewer claims in agriculture, manufacturing manufacturing, wholesale trade, retail trade and service industries.
According to this Department of Labor report for the week ending August 9, 2014 there were a total of 2,466,791 people claiming unemployment benefits. This represents a decrease of 50,674 claims from the prior week. One year ago there were 4,460,830 people claiming unemployment benefits.
While this News Release provides a only 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 28, 2014. The next national Department of Labor weekly unemployment claims report will be released on September 4, 2014 and will measure unemployment claims activity for the earlier week.
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