Jobless Claims Rise 4.9%

Seasonally adjusted initial jobless claims rose 4.9% to 361,000 for the week ending Dec. 15, according to a Department of Labor report released today. After last week's 7.8% drop and a full month of declines following a revised 25% spike attributed to Hurricane Sandy, the newest numbers showing a week-to-week increase of 17,000 initial claims perhaps signal an unwelcome speed bump in the labor market's recovery.

Source: Author, data from Department of Labor.

In more positive news, the four-week moving average dipped 3.6% to 367,750 initial jobless claims. Both this week's number and the four-week moving average fell solidly below 400,000, a cut-off point that economists consider a sign of an improving labor market.

On a state-by-state basis, California's initial claims jumped 5,950 for the week ended Dec. 8 (most recent available data), due mostly to layoffs in the service and manufacturing sectors. New York and Pennsylvania each recorded more than 11,000 fewer initial claims, citing fewer layoffs in the transportation, construction, and food service industries, among others.

The advance seasonally adjusted insured unemployment rate continues to hover at 2.5% for the week ending Dec. 8 (most recent data available), relatively unchanged since October.

link


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2163892, ~/Articles/ArticleHandler.aspx, 10/22/2014 11:29:28 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement