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U.S.Economy: 
Jobless Claims Drop by 20,000
Author: 123jump.com Staff
123jump.com
Last Update: 8:51 AM ET October 09 2008


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In the week ending Oct. 4, the advance figure for seasonally adjusted initial claims was 478,000, a decrease of 20,000 from the previous week's revised figure of 498,000. It is estimated that the effects of Hurricane Gustav in Louisiana and the effects of Hurricane Ike in Texas added approximately 17,000 claims to the total. The 4-week moving average was 482,500, an increase of 8,250 from the previous week''s revised average of 474,250.

 
The following is the unedited transcript of the news release from the U.S. Department of Labor.


SEASONALLY ADJUSTED DATA

In the week ending Oct. 4, the advance figure for seasonally adjusted initial claims was 478,000, a decrease of 20,000 from the previous week's revised figure of 498,000. It is estimated that the effects of Hurricane Gustav in Louisiana and the effects of Hurricane Ike in Texas added approximately 17,000 claims to the total. The 4-week moving average was 482,500, an increase of 8,250 from the previous week's revised average of 474,250.

The advance seasonally adjusted insured unemployment rate was 2.7 percent for the week ending Sept. 27, unchanged from the prior week's unrevised rate of 2.7 percent.

The advance number for seasonally adjusted insured unemployment during the week ending Sept. 27 was 3,659,000, an increase of 56,000 from the preceding week's revised level of 3,603,000. The 4-week moving average was 3,563,250, an increase of 31,750 from the preceding week's revised average of 3,531,500.

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 424,307 in the week ending Oct. 4, an increase of 32,092 from the previous week. There were 298,317 initial claims in the comparable week in 2007.

The advance unadjusted insured unemployment rate was 2.3 percent during the week ending Sept. 27, unchanged from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 3,048,077, an increase of 29,101 from the preceding week. A year earlier, the rate was 1.6 percent and the volume was 2,112,935.

Extended benefits were available in Alaska and Rhode Island during the week ending Sept. 20.

Initial claims for UI benefits by former Federal civilian employees totaled 1,101 in the week ending Sept. 27, an increase of 13 from the prior week. There were 1,683 initial claims by newly discharged veterans, an increase of 44 from the preceding week.

There were 13,325 former Federal civilian employees claiming UI benefits for the week ending Sept. 20, a decrease of 404 from the previous week. Newly discharged veterans claiming benefits totaled 22,170, an increase of 50 from the prior week.

States reported 1,067,077 persons claiming EUC (Emergency Unemployment Compensation) benefits for the week ending Sept. 20, a decrease of 364,677 from the prior week.

The highest insured unemployment rates in the week ending Sept. 20 were in Puerto Rico (4.7 percent), California (3.2), Michigan (3.2), Nevada (3.2), New Jersey (3.1), Oregon (3.1), South Carolina (3.0), Pennsylvania (2.9), Rhode Island (2.8), Arkansas (2.7), and North Carolina (2.7).

The largest increases in initial claims for the week ending Sept. 27 were in Texas (+13,538), Kentucky (+3,680), Mississippi (+1,505), Washington (+924), and New York (+782), while the largest decreases were in Louisiana (-17,816), Florida (-6,853), Michigan (-1,559), Ohio (-1,490), and Puerto Rico (-814).


Available at:

http://www.dol.gov/opa/media/press/eta/ui/current.htm
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