Thu Jun 14, 2012, 08:31 AM
mahatmakanejeeves (3,611 posts)
ETA News Release: Unemployment Insurance Weekly Claims Report (06/14/2012)
Last edited Thu Jun 14, 2012, 04:01 PM USA/ET - Edit history (3)
Source: Department of Labor, Employment and Training Admin
UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT
SEASONALLY ADJUSTED DATA
In the week ending June 9, the advance figure for seasonally adjusted initial claims was 386,000, an increase of 6,000 from the previous week's revised figure of 380,000. The 4-week moving average was 382,000, an increase of 3,500 from the previous week's revised average of 378,500.
The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending June 2, unchanged from the prior week's unrevised rate.
The advance number for seasonally adjusted insured unemployment during the week ending June 2 was 3,278,000, a decrease of 33,000 from the preceding week's revised level of 3,311,000. The 4-week moving average was 3,281,500, a decrease of 2,500 from the preceding week's revised average of 3,284,000.
The advance number of actual initial claims under state programs, unadjusted, totaled 373,540 in the week ending June 9, an increase of 49,155 from the previous week. There were 400,608 initial claims in the comparable week in 2011.
Read more: http://www.dol.gov/opa/media/press/eta/ui/eta20121202.htm
ETA: Darn, I forgot to include the link.
Good morning, Freepers and DUers alike. It is time once again for the weekly unemployment insurance initial claims report.
Here for your viewing pleasure are this week's data, brought to you as a nonpartisan public service. This is just one example of the good work your civil servants are performing for you.
Darn, up again.
I can't recall when I started posting the number every week, but this has probably been going on for at least a year. I seriously do not care if the week's data make Obama look good, or Romney look good, or Chairman Mao look good, or anybody else. They are just numbers, and I post them without regard to the consequences.
You will also note that I welcome people from Free Republic to examine the numbers as well. They paid for the work just as much as members of DU did, so I invite them to come on over and have a look. &quot;The more the merrier&quot; is the way I look at it.
I do not work at the EDTA, and I do not know anyone working in that agency. I'm sure I can safely assume that the numbers are gathered and analyzed by career civil servant economists who do their work on a nonpartisan basis. Numbers are numbers, and let the chips fall where they may. If you feel that these economists are falling down on the job, drop them a line or give them a call. They work for you, not for any politician or political party. Maybe they're all voting for Romney. That's up to them.
The word &quot;initial&quot; is important. The report does not count all claims, just the new ones filed this week.
Note: The seasonal adjustment factors used for the UI Weekly Claims data from 2007 forward, along with the resulting seasonally adjusted values for initial claims and continuing claims, have been revised. These revised historical values, as well as the seasonal adjustment factors that will be used through calendar year 2012, can be accessed at the bottom of the following link: http://www.oui.doleta.gov/press/2012/032911.asp
That's a bad link right now. It has been bad for about a month and a half, too. Try:
9 replies, 1933 views
ETA News Release: Unemployment Insurance Weekly Claims Report (06/14/2012) (Original post)
Response to mahatmakanejeeves (Original post)
Thu Jun 14, 2012, 08:35 AM
Ilsa (31,664 posts)
1. Thank you for posting.
I don't know how the President can get reelected with these numbers going up again. And yes, I'm scared for our economy. I'm scared if RMoney gets elected.
Response to mahatmakanejeeves (Original post)
Thu Jun 14, 2012, 09:17 AM
WI_DEM (32,522 posts)
4. more not too great economic news. If unemployment is going to start increasing...
Last edited Thu Jun 14, 2012, 09:18 AM USA/ET - Edit history (1)
in these months before the election, Obama is a goner. Elections always come down to the economy. If unemployment were dropping then Obama could say 'we are making progress lets not turn it over to Romney' but if unemployment goes up to say 8.5% by November then it's pretty hard to make that argument even though WE know it would be better to have Obama than Romney.
Response to WI_DEM (Reply #4)
Thu Jun 14, 2012, 10:26 AM
coalition_unwilling (14,180 posts)
7. Weekly claims for unemployment insurance compensation have nothing
Last edited Thu Jun 14, 2012, 10:27 AM USA/ET - Edit history (2)
to do with the unemployment rate per se. as the latter is determined by a survey of households conducted by the Bureau of Labor Statistics. There are many reasons why the unemployment rate can move in one direction or the other, completely independent of unemployment claims.
As an interesting illustration of this that also shows a paradox, the unemployment rate can actually go up when workers perceive that the economy is improving. Why? Because previously-discouraged workers are now encouraged to start looking for work again (a key criterion for defining whether one is 'unemployed' or 'not in the labor force'). But if workers start looking but have not yet found work, the unemployment rate will increase to reflect their renewed participation in the labor force but their failure thus far to earn any wages.
Obama's campaign, imo, needs to pivot from attacking Romney on Bain to attacking the 'Do Nothing Congress.' Obama proposed legislation last fall that would have created jobs and the Repig Congress took no action on his proposal. The Repig Congress has proposed no jobs bill of its own. Hence, 'Do-Nothing Congress' and shades of Harry S. Truman, ca. 1948. Americans admire a scrapper and HST was that in spades.