Unemployment Insurance Claims – Up by only 2,000

SEASONALLY ADJUSTED DATA

In the week ending August 11, the advance figure for seasonally adjusted initial claims was 366,000, an increase of 2,000 from the previous week’s revised figure of 364,000. The 4-week moving average was 363,750, a decrease of 5,500 from the previous week’s revised average of 369,250.

The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending August 4, unchanged from the prior week’s unrevised rate.

The advance number for seasonally adjusted insured unemployment during the week ending August 4, was 3,305,000, a decrease of 31,000 from the preceding week’s revised level of 3,336,000. The 4-week moving average was 3,303,000, a decrease of 3,000 from the preceding week’s revised average of 3,306,000.

via ETA Press Release: Unemployment Insurance Weekly Claims Report.

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US unemployment aid applications up by only 2,000

The number of Americans applying for unemployment benefits edged up slightly last week but remained at a level consistent with modest gains in hiring.

Unemployment benefit applications rose by 2,000 to a seasonally adjusted 366,000, the Labor Department said. The less volatile four-week average fell by 5,500 to 363,750. That was the lowest level since late March.

Applications have trended lower in the past two months, indicating companies are laying off fewer workers and hiring is picking up. When applications fall consistently below 375,000, it generally suggests hiring is strong enough to lower the unemployment rate.

“Claims so far in August have declined moderately compared to July, suggesting some improvement in the U.S. job environment. And that’s good news,” said Jennifer Lee, senior economist at BMO Capital Markets.

The total number of people receiving some kind of unemployment assistance also fell, dipping to 5.68 million for the week ending July 28, 70,000 below the previous week.

The decline in the number of people applying for weekly unemployment benefits has been one of several signs that the economy and hiring rebounded in July after falling into a spring slump…

via US unemployment aid applications up by only 2,000 – The Washington Post.

Source: JMM and FRED