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US / Unemployment Benefits / Down Only Slightly

Job Market Monitor: Two out of three employment-related reports were positive and only 28,000 persons were saying they have a job in the latest monthly labor market report . Latest claims data reflect those weaknesses for three weeks in a row. There are down only slightly, reflecting a very moderate growth in hiring.

The Report

SEASONALLY ADJUSTED DATA

In the week ending February 2, the advance figure for seasonally adjusted initial claims was 366,000, a decrease of 5,000 from the previous week’s revised figure of 371,000. The 4-week moving average was 350,500, a decrease of 2,250 from the previous week’s revised average of 352,750.

The advance seasonally adjusted insured unemployment rate was 2.5 percent for the week ending January 26, unchanged from the prior week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending January 26 was 3,224,000, an increase of 8,000 from the preceding week’s revised level of 3,216,000. The 4-week moving average was 3,211,000, an increase of 13,750 from the preceding week’s revised average of 3,197,250.

Chosen excerpts by Job Market Monitor from

'ETA Press Release_ Unemployment Insurance Weekly Claims Report' - www_dol_gov_opa_media_press_eta_ui_eta20122220_htm#_UJw0z29mIwc

via ETA Press Release: Unemployment Insurance Weekly Claims Report.

Fewer Workers Filed Claims for Jobless Benefits in U.S.

Claims for U.S. unemployment insurance payments fell last week, returning to levels seen in the second half of 2012.

Applications for jobless benefits dropped 5,000 to 366,000 in the week ended Feb. 2, Labor Department figures showed today. Economists forecast 360,000 claims, according to the median of 53 estimates in a Bloomberg survey.

Claims, after see-sawing in prior weeks as the government had trouble adjusting the data for seasonal swings, are settling at a level that signals there is little change in the pace of firings from last year.

“Businesses are sitting tight,” said Ryan Sweet, a senior economist at Moody’s Analytics Inc. in West Chester, Pennsylvania, and the most accurate forecaster of claims in the past two years, according to data compiled by Bloomberg. “They’re not hiring aggressively nor are they firing. It’s difficult to identify the spark that is going to lead to much stronger job growth.”

Chosen excerpts by Job Market Monitor from

Bloomberg

via Fewer Workers Filed Claims for Jobless Benefits in U.S. – Bloomberg.

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