For the second week in a row unemployment claims have increased according to United States Department of Labor (DOL) Report. Today the DOL, released their News Release on Unemployment Insurance Weekly Claims for the week ending June 7, 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 for the week came in at 317,000 which is an increase of 4,000 claims from the previous week's revised level. The 4-week unemployment claims moving average was 315,250 claims which is in increase from the previous week's revised average.
For the week ending May 31, 2014 the states that had the largest weekly increases for initial claims were Tennessee with 949 initial claims due to unexpected layoffs food services, construction and educational services with Illinois following with an increase of 654 claims due to layoffs. California lead all states with a reduction of 1,944 unemployment claims due to fewer than expected layoffs in the wholesale trade industry followed by New Jersey with a decrease of 1,654 initial claims.
According to this Department of Labor report for the week ending May 31, 2014 there were 2,614,000 people claiming unemployment benefits. This represents a decrease of increase of 11,000 claims from the prior week. A year ago there were 2,980,000 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 June 12, 2014. The next national Department of Labor weekly unemployment claims report will be released on June 19, 2014 and will measure unemployment claims activity for the earlier week.
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