Initial UE claims drop to 319,000

[papau]

http://www.dol.gov/opa/media/press/eta/ui/current.htm

February 3, 2005 UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA

In the week ending Jan. 29, the advance figure for seasonally adjusted initial claims was 316,000, a decrease of 9,000 from the previous week's unrevised figure of 325,000. The 4-week moving average was 331,500, a decrease of 10,250 from the previous week's unrevised average of 341,750.

The advance seasonally adjusted insured unemployment rate was 2.1 percent for the week ending Jan. 22, a decrease of 0.1 percentage point from the prior week's unrevised rate of 2.2 percent.

The advance number for seasonally adjusted insured unemployment during the week ending Jan. 22 was 2,696,000, a decrease of 116,000 from the preceding week's revised level of 2,812,000. The 4-week moving average was 2,713,250, a decrease of 40,000 from the preceding week's revised average of 2,753,250.


UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 364,943 in the week ending Jan. 29, an increase of 3,589 from the previous week. There were 406,298 initial claims in the comparable week in 2004.

The advance unadjusted insured unemployment rate was 2.6 percent during the week ending Jan. 22, unchanged from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 3,270,807, a decrease of 41,294 from the preceding week. A year earlier, the rate was 3.0 percent and the volume was 3,773,316.

[mhr]

1. How Many People Are There Left To Layoff?

One wonders after four years of Dubya.

We have to be getting to the bottom of the barrel.

The real question is what is the total number of long-term unemployed and underemployed?

Disclaimer - Unemployed 57 months here!

[liberal N proud]

2. Are those the Total numbers of people drawings Unemployment

or New Claims

[papau]

3. just new claims in one week

:-(

[liberal N proud]

4. The numbers that need to be exposed are those who are

collecting unemployment.
The new claims are important to show the trend. but we need to see the whole picture, new claims, total scroll numbers and those who are loosing benefits.

[Krupskaya]

5. I'm not drawing unemployment anymore! Yay!

Oh wait, that's because my benefits ran out more than two years ago, and I still haven't found a job.

[Rockerdem]

6. Jobs are increasing but

its the result of printing so much fiat money. Unsustainable over the long run.

The tipping point for job growth is considered to be 350,000, a traditional magic number. On the surface, 316,000 is a very strong employment indicator. Dont look for it to last much longer, tho. Or so Im told by a savvy market watcher.