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US Weekly Unemployment Insurance Claims Drop

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Today the United States Department of Labor, released their News Release on Unemployment Insurance Weekly Claims for the week ending July 5, 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 304,000 claims which is an decrease of 11,000 claims from the previous week's revised level of 315,000. The 4-week unemployment claims moving average was 311,500 claims which is in increase of 3,500 claims from the previous week's revised average.

For the week ending June 28, 2014 the states that had the largest weekly increases for initial claims were New Jersey with 8,579 initial claims due to layoffs in transportation, education services and warehousing, public administration and social assistance industries. Massachusetts followed with an increase of 4,566 claims. California lead all states with a reduction of 7,294 unemployment claims due to fewer than expected layoffs in the service industry followed by New York with a decrease of 2,078 initial claims.

According to this Department of Labor report for the week ending July 5, 2014 there were 2,584,000 people claiming unemployment benefits. This represents a significant decrease of claims from the prior week. One year ago there were 3,003,000 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 July 5, 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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