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Market Update : 
Jobless Claims Drop by 9,000
Author: 123jump.com Staff
123jump.com
Last Update: 9:06 AM EST February 14 2008



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In the week ending Feb. 9, the advance figure for seasonally adjusted initial claims was 348,000, a decrease of 9,000 from the previous week''''s revised figure of 357,000. The 4-week moving average was 347,250, an increase of 12,000 from the previous week''''s revised average of 335,250.

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


SEASONALLY ADJUSTED DATA

In the week ending Feb. 9, the advance figure for seasonally adjusted initial claims was 348,000, a decrease of 9,000 from the previous week''s revised figure of 357,000. The 4-week moving average was 347,250, an increase of 12,000 from the previous week''s revised average of 335,250.

The advance seasonally adjusted insured unemployment rate was 2.1 percent for the week ending Feb. 2, unchanged from the prior week''s unrevised rate of 2.1 percent.

The advance number for seasonally adjusted insured unemployment during the week ending Feb. 2 was 2,761,000, a decrease of 9,000 from the preceding week''s revised level of 2,770,000. The 4-week moving average was 2,727,500, an increase of 3,500 from the preceding week''s revised average of 2,724,000.

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 366,237 in the week ending Feb. 9, a decrease of 13,815 from the previous week. There were 363,018 initial claims in the comparable week in 2007.

The advance unadjusted insured unemployment rate was 2.5 percent during the week ending Feb. 2, unchanged from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 3,357,880, an increase of 25,600 from the preceding week. A year earlier, the rate was 2.3 percent and the volume was 3,079,780.

Extended benefits were not available in any state during the week ending Jan. 26.

Initial claims for UI benefits by former Federal civilian employees totaled 1,046 in the week ending Feb. 2, a decrease of 125 from the prior week. There were 1,563 initial claims by newly discharged veterans, an increase of 188 from the preceding week.

There were 17,684 former Federal civilian employees claiming UI benefits for the week ending Jan. 26, a decrease of 1,593 from the previous week. Newly discharged veterans claiming benefits totaled 23,943, an increase of 474 from the prior week.

The highest insured unemployment rates in the week ending Jan. 26 were in Alaska (4.9 percent), Michigan (4.5), Rhode Island (4.0), Idaho (3.9), Wisconsin (3.9), Pennsylvania (3.8), Oregon (3.6), New Jersey (3.5), Massachusetts (3.4), Illinois (3.3), and Vermont (3.3).

The largest increases in initial claims for the week ending Feb. 2 were in Washington (+2,710), Pennsylvania (+2,387), Oregon (+2,273), Ohio (+2,215), and Florida (+2,041), while the largest decreases were in California (-2,849), Michigan (-1,723), Maryland (-1,050), Iowa (-870), and Massachusetts (-690).


Available at:

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