Initial Unemployment claims drop to 302,000

[papau]

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

February 17, 2005

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA

In the week ending Feb. 12, the advance figure for seasonally adjusted initial claims was 302,000, a decrease of 2,000 from the previous week's revised figure of 304,000. The 4-week moving average was 311,750, a decrease of 4,000 from the previous week's revised average of 315,750.

The advance seasonally adjusted insured unemployment rate was 2.1 percent for the week ending Feb. 5, 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 Feb. 5 was 2,717,000, a decrease of 14,000 from the preceding week's revised level of 2,731,000. The 4-week moving average was 2,737,500, an increase of 4,750 from the preceding week's revised average of 2,732,750.


UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 308,044 in the week ending Feb. 12, a decrease of 39,134 from the previous week. There were 341,634 initial claims in the comparable week in 2004.

The advance unadjusted insured unemployment rate was 2.5 percent during the week ending Feb. 5, a decrease of 0.1 percentage point from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 3,221,980, a decrease of 74,108 from the preceding week. A year earlier, the rate was 3.0 percent and the volume was 3,776,188.

[98geoduck]

1. How many new Wal-Marts opened , or better yet, how many unemployed

are no longer insured.

[Claire Beth]

4. I don't know the exact percentage....

but there are a LOT of claimants who have exhausted their unemployment benefits and are dropped but still remain unemployed. I work for DOL so I know first hand.

[fasttense]

2. How many of those new employed are working for less than a living wage?

[mhr]

3. As I Keep Saying How Many People Are Left To Layoff?

Also See These Articles For How Bogus This Data Truly Is.

The Great American Job Sellout

http://www.vdare.com/asp/printPage.asp?url=http://www.vdare.com/roberts/050214_jobs.htm

Job growth -- is this it?

http://money.cnn.com/2005/02/14/news/economy/jobs_outlook/index.htm?cnn=yes

Employment Picture Still Dreary

http://www.comstockfunds.com/screenprint.cfm?newsletterid=1155

[trogdor]

5. Well, the "new unemployment claims" certainly is bogus.

All it means was there were few mass layoffs that week. It doesn't tell you anything about net unemployment, underemployment, or anything else. You can have a dip in new unemployment claims for several weeks in a row, but no new hiring, and your employment situation will still suck.

[Yavin4]

6. They're Declining Because of Two Things

(1) People are more willing to take part-time and temp gigs instead of filing for UE benefits. IOW, people are capitulating to the new jobless economy.

(2) When people get laid off from these new part-time and temp jobs, they don't qualify people for UE benefits.

[TahitiNut]

7. Don't forget forced early retirements.

I'd say that was a third reason.