US / Unemployment Benefits / Lowest level since March 2008

SEASONALLY ADJUSTED DATA

In the week ending December 22, the advance figure for seasonally adjusted initial claims was 350,000, a decrease of 12,000 from the previous week’s revised figure of 362,000. The 4-week moving average was 356,750, a decrease of 11,250 from the previous week’s revised average of 368,000.

The advance seasonally adjusted insured unemployment rate was 2.5 percent for the week ending December 15, unchanged from the prior week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending December 15 was 3,206,000, a decrease of 32,000 from the preceding week’s revised level of 3,238,000. The 4-week moving average was 3,219,000, a decrease of 24,750 from the preceding week’s revised average of 3,243,750.

Choosen excerpts by Job Market Monitor from

via ETA Press Release: Unemployment Insurance Weekly Claims Report.

US jobless aid applications fall to 5-year low

The average number of people seeking U.S. unemployment benefits over the past month fell to the lowest level since March 2008, a sign that the job market is healing.

The Labor Department said Thursday that weekly applications dropped 12,000 to a seasonally adjusted 350,000 in the week ended Dec. 22. The four-week average, a less volatile measure, fell to a nearly five-year low of 356,750.

Still, the Christmas holiday may have distorted the figures. A department spokesman said many state unemployment offices were closed Monday and Tuesday and could not provide exact data. That forced the government to rely on estimates. Normally, the government might estimate application data for one or two states. Last week, it had to use estimates for 19.

The estimates are usually fairly accurate, the spokesman said. Even so, the government will likely revise the figures by more than normal next week.

Weekly applications are a proxy for layoffs. They have mostly fluctuated this year between 360,000 and 390,000. At the same time, employers have added an average of 151,000 jobs a month in the first 11 months of 2012. That’s just enough to slowly reduce the unemployment rate.

Choosen excerpts by Job Market Monitor from

via US jobless aid applications fall to 5-year low – Yahoo! News.