Yesterday the United States Department of Labor, released their News Release on Unemployment Insurance Weekly Claims for the week ending April 19, 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 329,000 which is increase of 24,000 from the previous week's revised level. This moved the 4-week average of 316,750. The labor department news release identified there were no special factors impacting the initial claims.
For the week ending April 12, 2014 the states that had the largest weekly increases for initial claims were California with 9,213 initial claims due to layoffs in the service industry with Michigan following with an increase of 2,900 claims. Oregon lead all states with a reduction of 2,244 unemployment claims followed by Georgia with a decrease of 1,602 initial claims thanks to few layoffs than anticipated in manufacturing.
According to this Department of Labor report for the week ending April 5, 2014 there were 2,922,187 people claiming unemployment benefits. This represents a decrease of 85,245 claims from the prior week. A year ago there were 5,065,908 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 24, 2014. The next national Department of Labor weekly unemployment claims report should be released on May 1, 2014 and will measure activity the following week.
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