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Market Update : 
Jobless Claims Drop by 8,000
Author: 123jump.com Staff
123jump.com
Last Update: 8:54 AM EDT October 25 2007



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In the week ending Oct. 20, the advance figure for seasonally adjusted initial claims was 331,000, a decrease of 8,000 from the previous week''''s revised figure of 339,000. The 4-week moving average was 324,750, an increase of 7,750 from the previous week''''s revised average of 317,000.

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


SEASONALLY ADJUSTED DATA

In the week ending Oct. 20, the advance figure for seasonally adjusted initial claims was 331,000, a decrease of 8,000 from the previous week''s revised figure of 339,000. The 4-week moving average was 324,750, an increase of 7,750 from the previous week''s revised average of 317,000.

The advance seasonally adjusted insured unemployment rate was 1.9 percent for the week ending Oct. 13, unchanged from the prior week''s unrevised rate of 1.9 percent.

The advance number for seasonally adjusted insured unemployment during the week ending Oct. 13 was 2,530,000, an increase of 7,000 from the preceding week''s revised level of 2,523,000. The 4-week moving average was 2,526,000, a decrease of 3,750 from the preceding week''s revised average of 2,529,750.

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 305,821 in the week ending Oct. 20, a decrease of 526 from the previous week. There were 291,372 initial claims in the comparable week in 2006.

The advance unadjusted insured unemployment rate was 1.6 percent during the week ending Oct. 13, unchanged from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 2,180,625, an increase of 84,148 from the preceding week. A year earlier, the rate was 1.6 percent and the volume was 2,116,794.

Extended benefits were not available in any state during the week ending Oct. 6.

Initial claims for UI benefits by former Federal civilian employees totaled 1,374 in the week ending Oct. 13, a decrease of 778 from the prior week. There were 1,840 initial claims by newly discharged veterans, a decrease of 142 from the preceding week.

There were 14,041 former Federal civilian employees claiming UI benefits for the week ending Oct. 6, a decrease of 614 from the previous week. Newly discharged veterans claiming benefits totaled 21,818, a decrease of 517 from the prior week.

The highest insured unemployment rates in the week ending Oct. 6 were in Puerto Rico (2.7 percent), Michigan (2.5), Alaska (2.4), New Jersey (2.3), Pennsylvania (2.3), Arkansas (2.2), Oregon (2.2), California (2.1), Rhode Island (2.1), Massachusetts (2.0), and South Carolina (2.0).

The largest increases in initial claims for the week ending Oct. 13 were in Michigan (+5,720), Ohio (+2,523), Maryland (+2,150), Illinois (+1,639), and Florida (+1,582), while the largest decreases were in California (-4,917), Kentucky (-2,605), Missouri (-2,136), New York (-1,703), and New Jersey (-1,385).


Available at:

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