Black and White Program

Jobless Claims rise again in the see-saw environment

October 19th, 2012 by John Eastman

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The number of workers filing applications for jobless benefits in the U.S. has risen again, although this statistics has been plagued by technical factors, causing distortion. Initial jobless claims (the measure of layoffs) were up by 46,000, to a seasonally adjusted 388,000, in the week ended Oct. 13, according to the U.S. Labor Department.

In the previous week, jobless claims dropped by 27,000, however Labor Department officials explained that the decrease was because of an unexpected shift in seasonal reporting by the state of California, which reported fewer claims than expected. Claims for the prior week were revised up to 342,000 from an initially reported 339,000. The four-week moving average of claims rose by 750 to 365,500.

Thursday’s jobless claims data showed the number of continuing unemployment benefit claims – those drawn by workers for more than a week – dropped by 29,000 to 3,252,000 in the week ended Oct. 6. Continuing claims are reported with a one-week lag.

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