Earlier this week the United States Department of Labor, released their News Release on Unemployment Insurance Weekly Claims for the week ending April 12, 2014. This report speaks to the weekly national unemployment activity. BLS 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 302,000 with a revised monthly average of 312,000. This represents the lowest level average since per-recession level October 6, 2007 when the average was 302,000 claims. The labor department news release identified there were no special factors impacting the initial claims.
For the week ending April 5, 2014 the states that had the largest weekly increases for initial claims were Michigan with 4,284 initial claims due to layoffs in the wholesale trade industry with Pennsylvania seeing an increase of 2,335 claims due to layoffs in construction, manufacturing and administrative support services. California lead all states with a reduction of 13,892 unemployment claims due to fewer layoffs in the service industry followed by Iowa with a decrease of 1,266 initial claims thanks to few layoffs than anticipated in manufacturing.
According to this Department of Labor report for the week ending March 29, 2014 there were 3,007,392 people claiming unemployment benefits. This represents a decrease of 155,971 claims from the prior week. A year ago there were 5,146,499 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 April 17, 2014. The next national Department of Labor weekly unemployment claims report should be released on April 24, 2014 and will measure activity the following week.
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