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New Jobless Claims drop slightly
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While the stock market has shown signs of optimism, the labor market still appears stagnant. Colorado Initial Claims drop slightly with 4,250 new claims. This shows a decrease of 488 claims from last week. On the national level, Initial Claims drop 38,000 to 550,000. While both at the state level and at the national level Initial Claims were down, the decrease seems very slow and dreadfully painful.
The national Continuing Claims increased 113,000 to 6,310,000. This represents only the third increase in the last nine weeks. The Colorado Continuing Claims decreased, but the 4-week moving average saw an increase of 71 claims to 75.068.
19 states saw a drop of more than 1,000 Initial Claims this week. Zero states reported an increase of more than 1,000 Initial Claims this week. North Carolina and Michigan saw the largest decreases. North Carolina reported a drop of 9,809 claims with fewer layoffs in the rubber/plastics, textile, furniture, industrial machinery, and trade industries. Michigan reported 9,085 fewer with less layoffs in the automobile industry.
For more Data and Charts, click the link below:
www.rskye.com/Home/finance/colorado-jobless-claims-1/colorado-jobless-claims-08-06-09
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