A Closer Look

Unemployment Insurance Weekly Claims Report: Not an indication of a dynamic job market.

SEASONALLY ADJUSTED DATA

I

SEASONALLY ADJUSTED DATA

In the week ending June 16, the advance figure for seasonally adjusted initial claims was 387,000, a decrease of 2,000 from the previous week’s revised figure of 389,000. The 4-week moving average was 386,250, an increase of 3,500 from the previous week’s revised average of 382,750.

The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending June 9, unchanged from the prior week’s unrevised rate.

The advance number for seasonally adjusted insured unemployment during the week ending June 9 was 3,299,000, unchanged from the preceding week’s revised level. The 4-week moving average was 3,293,750, an increase of 5,250 from the preceding week’s revised average of 3,288,500.

(Excerpts) 

Source: ETA Press Release: Unemployment Insurance Weekly Claims Report

US factory, jobs data highlight struggling recovery | Reuters

U.S. manufacturing grew at its slowest pace in 11 months in June and the number of Americans filing new applications for unemployment aid fell slightly last week, further evidence the economy was weakening.

Other reports on Thursday underscored the difficulty the economy was having breaking out of a soft patch. Factory activity in the Mid-Atlantic region tumbled to a 10-month low in June and home resales slipped in May.

“Today’s numbers are ugly. The economy is in another mid-year slump, growth will struggle to breach 2 percent and the odds are rising that the Fed will need to do more, probably as soon as its August meeting,” said Ryan Sweet, a senior economist at Moody’s Analytics in West Chester Pennsylvania…

Source: US factory, jobs data highlight struggling recovery | Reuters.

Discussion

2 thoughts on “Unemployment Insurance Weekly Claims Report: Not an indication of a dynamic job market.

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    Posted by Homepage | July 6, 2012, 4:43 am
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    Posted by Cecira | July 13, 2012, 5:41 am

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