Picture credit - New Vision

Amid the trade disputes, U.S. jobless claims fell in a recent report released from the Labor Department.

The number of Americans applying for state unemployment benefits fell to 206,000. Economists had forecast around 225,000, according to the report.

Original jobless claims have been rising higher from historically low levels for many weeks. The most recent numbers indicate at least a pause in unemployment claims, with the numbers dropping far below the basically unchanged forecast.

Below is a statement from the Labor Department released on Thursday –

In the week ending December 8, the advance figure for seasonally adjusted initial claims was 206,000, a decrease of 27,000 from the previous week’s revised level. The previous week’s level was revised up by 2,000 from 231,000 to 233,000. The 4-week moving average was 224,750, a decrease of 3,750 from the previous week’s revised average. The previous week’s average was revised up by 500 from 228,000 to 228,500.

The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending December 1, an increase of 0.1 percentage point from the previous week’s unrevised rate.

The advance number for seasonally adjusted insured unemployment during the week ending December 1 was 1,661,000, an increase of 25,000 from the previous week’s revised level. The previous week’s level was revised up 5,000 from 1,631,000 to 1,636,000.

The 4-week moving average was 1,665,750, a decrease of 2,500 from the previous week’s revised average. The previous week’s average was revised up by 1,250 from 1,667,000 to 1,668,250.

The advance number of actual initial claims under state programs, unadjusted, totaled 260,508 in the week ending December 8, a decrease of 57,427 (or -18.1 percent) from the previous week. The seasonal factors had expected a decrease of 23,258 (or -7.3 percent) from the previous week. There were 282,009 initial claims in the comparable week
in 2017.

The advance unadjusted insured unemployment rate was 1.2 percent during the week ending December 1, unchanged from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 1,649,837, a decrease of 15,644 (or -0.9 percent) from the preceding week. The seasonal factors had expected a decrease of 40,901 (or -2.5 percent) from the previous week. A year earlier the rate was 1.3 percent and the volume was 1,869,012.

The total number of people claiming benefits in all programs for the week ending November 24 was 1,694,194, an increase of 231,515 from the previous week. There were 1,991,688 persons claiming benefits in all programs in the comparable week in 2017.

No state was triggered “on” the Extended Benefits program during the week ending November 24.

Initial claims for UI benefits filed by former Federal civilian employees totaled 1,343 in the week ending December 1, an increase of 522 from the prior week. There were 623 initial claims filed by newly discharged veterans, an increase of 264 from the preceding week.

There were 10,345 former Federal civilian employees claiming UI benefits for the week ending November 24, an increase of 1,891 from the previous week. Newly discharged veterans claiming benefits totaled 7,148, an increase of 851 from the prior week.

The highest insured unemployment rates in the week ending November 24 were in Alaska (3.1), New Jersey (2.2), California (1.9), Puerto Rico (1.9), Connecticut (1.8), Montana (1.8), Pennsylvania (1.7), Washington (1.7), and West Virginia (1.6).

 

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