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Market Update : 
Jobless Claims Drop by 16,000
Author: 123jump.com Staff
123jump.com
Last Update: 9:10 AM ET July 02 2009



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In the week ending June 27, the advance figure for seasonally adjusted initial claims was 614,000, a decrease of 16,000 from the previous week''''s revised figure of 630,000. The 4-week moving average was 615,250, a decrease of 2,750 from the previous week''''s revised average of 618,000.

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


SEASONALLY ADJUSTED DATA

In the week ending June 27, the advance figure for seasonally adjusted initial claims was 614,000, a decrease of 16,000 from the previous week''s revised figure of 630,000. The 4-week moving average was 615,250, a decrease of 2,750 from the previous week''s revised average of 618,000.

The advance seasonally adjusted insured unemployment rate was 5.0 percent for the week ending June 20, a decrease of 0.1 percentage point from the prior week''s revised rate of 5.1 percent.

The advance number for seasonally adjusted insured unemployment during the week ending June 20 was 6,702,000, a decrease of 53,000 from the preceding week''s revised level of 6,755,000. The 4-week moving average was 6,751,500, a decrease of 13,750 from the preceding week''s revised average of 6,765,250.

The fiscal year-to-date average for seasonally adjusted insured unemployment for all programs is 5.375 million.

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 556,863 in the week ending June 27, a decrease of 11,689 from the previous week. There were 368,544 initial claims in the comparable week in 2008.

The advance unadjusted insured unemployment rate was 4.5 percent during the week ending June 20, a decrease of 0.1 percentage point from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 6,058,925, a decrease of 54,348 from the preceding week. A year earlier, the rate was 2.1 percent and the volume was 2,855,557.

Extended benefits were available in Alaska, Arizona, Arkansas, California, Colorado, Connecticut, the District of Columbia, Florida, Georgia, Idaho, Illinois, Indiana, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nevada, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, Tennessee, Vermont, Virginia, Washington, and Wisconsin during the week ending June 13.

Initial claims for UI benefits by former Federal civilian employees totaled 1,574 in the week ending June 20, a decrease of 258 from the prior week. There were 2,095 initial claims by newly discharged veterans, an increase of 181 from the preceding week.

There were 17,022 former Federal civilian employees claiming UI benefits for the week ending June 13, an increase of 278 from the previous week. Newly discharged veterans claiming benefits totaled 28,364, an increase of 514 from the prior week.

States reported 2,437,825 persons claiming EUC (Emergency Unemployment Compensation) benefits for the week ending June 13, an increase of 8,053 from the prior week. EUC weekly claims include both first and second tier activity.

The highest insured unemployment rates in the week ending June 13 were in Michigan (7.5 percent), Oregon (6.7), Puerto Rico (6.6), Nevada (6.3), Pennsylvania (6.2), Wisconsin (5.7), California (5.4), South Carolina (5.3), Arkansas (5.2), Illinois (5.2), and North Carolina (5.2).

The largest increases in initial claims for the week ending June 20 were in California (+14,570), New Jersey (+3,170), Oregon (+3,062), Maryland (+2,342), and Michigan (+2,032), while the largest decreases were in Missouri (-5,753), Pennsylvania (-3,037), Texas (-2,759), Alabama (-1,926), and Florida (-1,894).


Available at:

http://www.dol.gov/opa/media/press/eta/ui/current.htm
More: Market Update Archive

 


Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.

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