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Free AccessMNI DATA ANALYSIS: US Jobless Claims Rose 3,000 In June 30 Wk>
--Initial Claims Four-Week Average Up 2,250 To 224,500
By Sara Haire, Harrison Clarke, and Shikha Dave
WASHINGTON (MNI) - Initial claims U.S. state unemployment benefits
rose by 3,000 to 231,000 in the June 30 week, above the 224,000 level
expected by analysts in an MNI survey following an a slight upward
revision to claims in the previous week, data released by the Labor
Department Thursday showed.
A better measure for the underlying trend of the data is the
four-week moving average for initial claims. The average rose by 2,250
to 224,500 in the June 30 week.
If the number of headline claims does not change next week and
there are no revisions to data from the past four weeks, the four-week
average would rise by 2,500 as the 221,000 level in the June 9 week
rolls out of the calculation, still keeping the average below its year
ago level.
Seasonal adjustment factors had expected a decrease of 2.1%, or
4,778 in unadjusted claims. Unadjusted claims however, actually saw an
increase of 3.7%, or 8,306 to 231,072. The current week's level was well
below the 252,886 level in the comparable week a year ago.
--CONTINUING CLAIMS ROSE, 4-WK AVERAGE DECLINES
The level of continuing claims rose by 32,000 to 1.739 million in
the June 23 week. Before seasonal adjustment, continuing claims rose by
57,195 to 1.643 million, still remaining below the 1.867 million level
seen in the comparable week last year.
The four-week average for continuing claims, which tends to be a
more reliable measure as the continuing claims consistently fluctuate
week-to-week, fell by 1,750 to 1.718 million, making it again the lowest
point since the December 8, 1973 week.
The seasonally adjusted insured unemployment rate stayed at 1.2% in
the June 23 week, down from the 1.4% in the same week a year earlier,
reinforcing that the level of insured unemployment is particularly low.
This is the eighth week in a row that it has remained at this level.
Claims were estimated for Maine only.
The unemployment rate among the insured labor force is well below
that reported monthly by the Labor Department because claims are
approved for the most part only for job losers, not the job leavers and
labor force reentrants included in the monthly report.
** MNI Washington Bureau: 202-371-2121 **
[TOPICS: MAUDS$,M$U$$$,MAUDR$]
To read the full story
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Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.