ETA News Release: Unemployment Insurance Weekly Claims Report (04/12/2012)

[mahatmakanejeeves]

Source: Department of Labor, Employment and Training Admin

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA

In the week ending April 7, the advance figure for seasonally adjusted initial claims was 380,000, an increase of 13,000 from the previous week's revised figure of 367,000. The 4-week moving average was 368,500, an increase of 4,250 from the previous week's revised average of 364,250.

The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending March 31, unchanged from the prior week's unrevised rate of 2.6 percent.

The advance number for seasonally adjusted insured unemployment during the week ending March 31 was 3,251,000, a decrease of 98,000 from the preceding week's revised level of 3,349,000. The 4-week moving average was 3,334,250, a decrease of 35,750 from the preceding week's revised average of 3,370,000.

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 381,875 in the week ending April 7, an increase of 62,530 from the previous week. There were 448,029 initial claims in the comparable week in 2011.

Read more: http://www.dol.gov/opa/media/press/eta/ui/eta20120688.htm

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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.

That word "initial" is important. The report does not count all claims, just the new ones filed this week.

Bad news. The number went up this week, by 13,000.

[DallasNE]

1. Not All Bad News Though

In fact, the headline number was the only bad number. Both the seasonally adjusted insured unemployment number and the comparison to the same week last year we improved.

What this does show, though, is the drag on employment from high prices at the gas pump -- the same thing causing Bernanke to say that low interest rates may be needed even beyond 2014. Indeed, I am not sure why there are not any calls to look into price gouging at the pump because the spread between the cost of crude and the cost of gas has never been higher.

[jschurchin]

2. In the week ending March 31, the advance figure for seasonally adjusted initial claims was 357,000

and this week it is 380,000, for an increase of 23,000. Not to worry though, next week this weeks initial will be RAISED to 405,000 while next weeks initals will be 375,000 on expectations of 390,000 for a decrease of 15,000.
Yeah, all is better now.

Woohoo!!!!