Yesterday the United States Department of Labor, released their News Release on Unemployment Insurance Weekly Claims for the week ending April 26, 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 344,000 which is increase of 14,000 from the previous week's revised level. This moved the 4-week average up to 320,000. The labor department news release identified there were no special factors impacting the initial claims.
For the week ending April 19, 2014 the states that had the largest weekly increases for initial claims were New Jersey with 4,652 initial claims due to layoffs in the educational services industry with Connecticut following with an increase of 2,073 claims due to layoffs across several industries. Texas lead all states with a reduction of 3,118 unemployment claims followed by California with a decrease of 2,887 initial claims thanks to few layoffs than anticipated in manufacturing.
According to this Department of Labor report for the week ending April 12, 2014 there were 2,822,340 people claiming unemployment benefits. This represents a decrease of 99,855 claims from the prior week. A year ago there were 4,956,474 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 May 1, 2014. The next national Department of Labor weekly unemployment claims report should be released on May 8, 2014 and will measure unemployment activity for the following week.
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