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Weekly Unemployment Claims Report 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 June 14, 2014. This report speaks to the weekly national unemployment activity. DOL News Release provides information and analysis on the national unemployment claims. After two weeks of increased claims activity this week saw a decrease in unemployment claims.

After revisions to the previous week claims and monthly average the overall unemployment claims for the week came in at 312,000 which is an decrease of 6,000 claims from the previous week's revised level. The 4-week unemployment claims moving average was 311,750 claims which is in decrease of 3,750 claims from the previous week's revised average.

For the week ending June 7, 2014 the states that had the largest weekly increases for initial claims were California with 9,935 initial claims due to unexpected layoffs in the service industry with Florida following with an increase of 4,050 claims due to layoffs in the agriculture, construction, manufacturing, wholesale trade and service industries. New Mexico lead all states with a reduction of 322 unemployment claims due to fewer than expected layoffs in the wholesale trade industry followed by Nebraska with a decrease of 162 initial claims.

According to this Department of Labor report for the week ending June 14, 2014 there were 2,561,000 people claiming unemployment benefits. This represents a decrease of increase of claims from the prior week. One year ago there were 2,975,000 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 19, 2014. The next national Department of Labor weekly unemployment claims report will be released on June 26, 2014 and will measure unemployment claims activity for the earlier week.

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