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Market Update : 
Jobless Claims Edge Down
Author: 123jump.com Staff
123jump.com
Last Update: 9:02 AM EDT August 31 2006



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In the week ending Aug. 26, the advance figure for seasonally adjusted initial claims was 316,000, a decrease of 2,000 from the previous week''''s revised figure of 318,000. The 4-week moving average was 317,500, an increase of 1,000 from the previous week''''s revised average of 316,500.The advance seasonally adjusted insured unemployment rate was 1.9% for the week ending Aug. 19, unchanged from the prior week''''s unrevised rate of 1.9 %.

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


SEASONALLY ADJUSTED DATA

In the week ending Aug. 26, the advance figure for seasonally adjusted initial claims was 316,000, a decrease of 2,000 from the previous week''s revised figure of 318,000. The 4-week moving average was 317,500, an increase of 1,000 from the previous week''s revised average of 316,500.The advance seasonally adjusted insured unemployment rate was 1.9% for the week ending Aug. 19, unchanged from the prior week''s unrevised rate of 1.9 %.

The advance number for seasonally adjusted insured unemployment during the week ending Aug. 19 was 2,486,000, an increase of 3,000 from the preceding week''s revised level of 2,483,000. The 4-week moving average was 2,485,750, an increase of 13,500 from the preceding week''s revised average of 2,472,250.

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 249,492 in the week ending Aug. 26, a decrease of 2,778 from the previous week. There were 251,642 initial claims in the comparable week in 2005.

The advance unadjusted insured unemployment rate was 1.8 % during the week ending Aug. 19, unchanged from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 2,277,619, a decrease of 48,767 from the preceding week. A year earlier, the rate was 1.9 % and the volume was 2,379,439.

Extended benefits were not available in any state during the week ending Aug. 12.

Initial claims for UI benefits by former Federal civilian employees totaled 1,005 in the week ending Aug. 19, a decrease of 227 from the prior week. There were 1,980 initial claims by newly discharged veterans, a decrease of 270 from the preceding week.

There were 15,270 former Federal civilian employees claiming UI benefits for the week ending Aug. 12, an increase of 125 from the previous week. Newly discharged veterans claiming benefits totaled 25,896, an increase of 40 from the prior week.

The highest insured unemployment rates in the week ending Aug. 12 were in Puerto Rico (3.9 %), Michigan (3.0), New Jersey (3.0), Pennsylvania (2.9), Alaska (2.8), Rhode Island (2.6), Arkansas (2.5), Connecticut (2.5), Massachusetts (2.4), Oregon (2.2), and Wisconsin (2.2).

The largest increases in initial claims for the week ending Aug. 19 were in Ohio (+2,484), Virginia (+1,599), Michigan (+1,022), New Jersey (+680), and Indiana (+674), while the largest decreases were in North Carolina (-2,205), Wisconsin (-1,185), Arkansas (-994), Georgia (-916), and New York (-788).


Available at:

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