New Unemployment claims drop 36,000 from last week to 271,000

[papau]

http://www.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38736.3544589699-857798719&siteID=mktw&scid=0&doctype=806&property=symb&value=&categories=&

WASHINGTON (MarketWatch) - First-time claims for state unemployment benefits plunged to their lowest level in almost six year in the latest week, the Labor Department reported Thursday. The number of initial claims in the week ending Jan. 14 fell 36,000 to 271,000. It's the lowest level since the week ended April 15, 2000. The drop was unexpected. The consensus forecast of Wall Street economists was for claims to rise 7,000 to 316,000. The claims data are very volatile this time of year. The government's statistical seasonal adjustment factors cannot completely smooth out the massive swings in seasonal employment in December and January.

January 19, 2006 UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA ("seasonal adjustment factors cannot completely smooth out the massive swings in seasonal employment in December and January" - from Marketwatch above).


In the week ending Jan. 14, the advance figure for seasonally adjusted initial claims was 271,000, a decrease of 36,000 from the previous week's revised figure of 307,000. The 4-week moving average was 299,000, a decrease of 12,000 from the previous week's revised average of 311,000.

The advance seasonally adjusted insured unemployment rate was 2.0 percent for the week ending Jan. 7, a decrease of 0.1 percentage point from the prior week's unrevised rate of 2.1 percent.

The advance number for seasonally adjusted insured unemployment during the week ending Jan. 7 was 2,534,000, a decrease of 158,000 from the preceding week's revised level of 2,692,000. The 4-week moving average was 2,655,500, a decrease of 24,000 from the preceding week's revised average of 2,679,500.

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 438,385 in the week ending Jan. 14, a decrease of 116,581 from the previous week. There were 467,862 initial claims in the comparable week in 2005.

The advance unadjusted insured unemployment rate was 2.5 percent during the week ending Jan. 7, unchanged from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 3,169,948, an increase of 14,730 from the preceding week. A year earlier, the rate was 2.6 percent and the volume was 3,342,292.

Extended benefits were available in Louisiana during the week ending Dec. 31.
http://www.dol.gov/opa/media/press/eta/ui/current.htm

[bluestateguy]

1. Whatever

These numbers are all faked and covered up. I can't prove it, however, because much of that evidence too, has been covered up.

[OKthatsIT]

8. I agree..all BUSH statistics are BOGUS.

[mrcheerful]

2. This line says it all.

The number of initial claims in the week ending Jan. 14 fell 36,000 to 271,000. Which tells you that they are only counting people making claims and not the unemployed or the under employed.

[papau]

4. Very true - but the initial filing number is a "trend" indicator n/t

n/t

[KoKo]

3. Sure....and next month it will be through the roof...the month after it

will go down again. Up and Down...Down and Up...and all if it misleading based on "their statistics" which are manipulated according to the way the political wind is blowing that month.

[papau]

5. I suspect Gulf coast closed state offices adjustment has ended n/t

n/t

[awoke_in_2003]

6. Sure...

that's the number who ran out of benefits- they aren't counted once benefits end.

[papau]

7. No - that is initial -new- filed 2 weeks ago - claims, As to the overall

unemployment rate calculation, that is done by a different group that uses interviews (much like polling) and has 6 variations on the numbers based on just how hard you are looking for work.

The largest/highest unemployment rate number is generated by a variation called U-6 and gives unemployment numbers between 8.5% and 10.5% and is now around 8.6%.

http://www.bls.gov/webapps/legacy/cpsatab12.htm