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Market Update : 
Jobless Claims Drop by 12,000
Author: 123jump.com Staff
123jump.com
Last Update: 8:55 AM EDT October 11 2007



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In the week ending Oct. 6, the advance figure for seasonally adjusted initial claims was 308,000, a decrease of 12,000 from the previous week''''s revised figure of 320,000. The 4-week moving average was 310,250, a decrease of 3,000 from the previous week''''s revised average of 313,250.

 
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. 6, the advance figure for seasonally adjusted initial claims was 308,000, a decrease of 12,000 from the previous week''s revised figure of 320,000. The 4-week moving average was 310,250, a decrease of 3,000 from the previous week''s revised average of 313,250.

The advance seasonally adjusted insured unemployment rate was 1.9% for the week ending Sept. 29, unchanged from the last week unrevised rate of 1.9%.

The advance number for seasonally adjusted insured unemployment during the week ending Sept. 29 was 2,521,000, a decrease of 15,000 from the preceding week''s revised level of 2,536,000. The 4-week moving average was 2,535,500, a decrease of 19,000 from the preceding week''s revised average of 2,554,500.

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 297,010 in the week ending Oct. 6, an increase of 41,615 from the previous week. There were 307,646 initial claims in the comparable week in 2006.

The advance unadjusted insured unemployment rate was 1.6 percent during the week ending Sept. 29, unchanged from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 2,117,922, a decrease of 22,845 from the preceding week. A year earlier, the rate was 1.6 percent and the volume was 2,039,526.

Extended benefits were not available in any state during the week ending Sept. 22.

Initial claims for UI benefits by former Federal civilian employees totaled 1,128 in the week ending Sept. 29, a decrease of 316 from the prior week. There were 1,723 initial claims by newly discharged veterans, a decrease of 59 from the preceding week.

There were 13,833 former Federal civilian employees claiming UI benefits for the week ending Sept. 22, a decrease of 288 from the previous week. Newly discharged veterans claiming benefits totaled 22,468, an increase of 153 from the prior week.

The highest insured unemployment rates in the week ending Sept. 22 were in Puerto Rico (3.1 percent), Alaska (2.4), Michigan (2.4), New Jersey (2.4), Pennsylvania (2.3), Rhode Island (2.3), Arkansas (2.2), California (2.2), Oregon (2.1), and Massachusetts (2.0).

The largest increases in initial claims for the week ending Sept. 29 were in Michigan (+4,432), Ohio (+1,996), Indiana (+1,928), North Carolina (+1,715), and Texas (+1,312), while the largest decreases were in Florida (-2,756), New York (-1,303), Georgia (-858), Minnesota(-391), and Virginia (-324).


Available at:

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