Unemployment Insurance / Claims fell last week but still dancing above 400,000 amid Sandy

Several states were still reporting an increase in claims because of Hurricane Sandy

An analyst from the Labor Department said several states were still reporting an increase in claims because of Hurricane Sandy, the mammoth storm that slammed into the East Coast on Oct. 29.

The storm left millions of homes and businesses without electricity, shut down public transportation and led many factories in the mid-Atlantic and Northeast to curtail production. Retail sales fell as the disruption caused a sudden drop in automobile purchases.

However, the economic impact of the storm is likely to be temporary.

Choosen excerpts by Job Market Monitor from

via Jobless Claims Decline – NYTimes.com.

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SEASONALLY ADJUSTED DATA

In the week ending November 17, the advance figure for seasonally adjusted initial claims was 410,000, a decrease of 41,000 from the previous week’s revised figure of 451,000. The 4-week moving average was 396,250, an increase of 9,500 from the previous week’s revised average of 386,750.

The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending November 10, unchanged from the prior week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending November 10 was 3,337,000, a decrease of 30,000 from the preceding week’s revised level of 3,367,000. The 4-week moving average was 3,285,000, an increase of 19,500 from the preceding week’s revised average of 3,265,500.

Choosen excerpts by Job Market Monitor from

via ETA Press Release: Unemployment Insurance Weekly Claims Report.