initial unemployment claims rise by 5,000 to 309,000 -highest since 12/05

[papau]

Consumer prices up 0.1% in Feb, up 0.1% excluding food and energy; housing starts down 7.9%; jobless claims rise.

edit: http://money.cnn.com/2006/03/16/news/economy/jobless.reut/index.htm

Jobless claims up unexpectedly
Initial filing rise to 309,000, at highest level of 2006; 4-week measure shows strong job market.
March 16, 2006: 8:34 AM EST


WASHINGTON (Reuters) - New claims for U.S. jobless benefits unexpectedly edged up by 5,000 last week to the highest level of the year, but a measure of longer-term unemployment fell to its lowest level in more than five years, the government said Thursday.

The number of Americans filing initial claims for state unemployment aid rose to 309,000 in the week ended March 11, the highest since late December, from a revised 304,000 the prior week, the Labor Department said.

DOL has not updated as of 8:55

Prior week data

March 9, 2006 UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA

In the week ending March 4, the advance figure for seasonally adjusted initial claims was 303,000, an increase of 8,000 from the previous week's revised figure of 295,000. The 4-week moving average was 293,500, an increase of 6,250 from the previous week's unrevised average of 287,250.

The advance seasonally adjusted insured unemployment rate was 1.9 percent for the week ending Feb. 25, unchanged from the prior week's unrevised rate of 1.9 percent.

The advance number for seasonally adjusted insured unemployment during the week ending Feb. 25 was 2,506,000, an increase of 29,000 from the preceding week's revised level of 2,477,000. The 4-week moving average was 2,493,750, a decrease of 11,500 from the preceding week's revised average of 2,505,250.

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 300,738 in the week ending March 4, an increase of 28,349 from the previous week. There were 332,067 initial claims in the comparable week in 2005.

The advance unadjusted insured unemployment rate was 2.3 percent during the week ending Feb. 25, unchanged from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 2,989,181, an increase of 83,606 from the preceding week. A year earlier, the rate was 2.5 percent and the volume was 3,226,999.

Extended benefits were available in Louisiana during the week ending Feb. 18.

Initial claims for UI benefits by former Federal civilian employees totaled 894 in the week ending Feb. 25, a decrease of 6 from the prior week. There were 1,746 initial claims by newly discharged veterans, a decrease of 195 from the preceding week.

There were 17,849 former Federal civilian employees claiming UI benefits for the week ending Feb. 18, an increase of 58 from the previous week. Newly discharged veterans claiming benefits totaled 29,096, an increase of 123 from the prior week.
http://www.dol.gov/opa/media/press/eta/ui/current.htm

http://news.yahoo.com/s/nm/20060316/bs_nm/economy_dc;_ylt=AnvGCDX3GPaRHdmmlayqYqC573QA;_ylu=X3oDMTA5aHJvMDdwBHNlYwN5bmNhdA--

U.S. consumer prices rose a modest 0.1 percent last month, both overall and excluding food and energy, the government said on Thursday in a report showing even less inflation pressure than Wall Street expected.

A sharp 1.2 percent decrease in energy costs in February helped keep the consumer price index in check, the Labor Department report showed. In addition, food prices rose just 0.1 percent.

But even outside of those two often-volatile areas, price increases were mostly moderate.

The department said four-fifths of the slight increase in the core index was due to a 0.4 percent gain in shelter costs. A 1 percent drop in clothing prices helped offset that rise.

While the 0.1 percent rise in overall prices matched expectations on Wall Street, forecasters had expected core prices to increase 0.2 percent.

Over the past 12 months, consumer prices have risen <snip>

http://news.yahoo.com/s/usatoday/20060315/bs_usatoday/ustradedeficitballoonsto805b;_ylt=AhDDbIdPwhLD5RAdw4TxNkDoB2YD;_ylu=X3oDMTA5aHJvMDdwBHNlYwN5bmNhdA--

U.S. trade deficit balloons to $805B
Wed Mar 15, 6:43 AM ET
The most complete scorecard of the United States' international trade performance deteriorated to a record $804.9B deficit in 2005. The "current account" deficit, including trade in goods, services and investment income, was 20.5% greater than in 2004.<snip>

[spinbaby]

1. Unexpectedly?

These economists are easily surprised, aren't they?

[Maeve]

2. They are CONSTANTLY surprised! eom

[berni_mccoy]

3. That's because they are NOT REPORTING THE ACTUAL NUMBERS

And the real ones keep causing contradictions like this. Check out my post from Jan about how they hide the real figures... right now we are running about a 11-12% unemployment rate.

http://journals.democraticunderground.com/berni_mccoy/1

[libodem]

5. Thank you for posting this

i have suspected this and think i have even heard it before but didn't know where to look for info. Man that is a complicated bit of information. I need the dummies version.

[berni_mccoy]

6. Everything they setup is so complicated to unravel...

intentional obfuscation

[papau]

4. This weeks official DOL report is now posted on it's site (and below)

March 16, 2006

[phone]





UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA

In the week ending March 11, the advance figure for seasonally adjusted initial claims was 309,000, an increase of 5,000 from the previous week's revised figure of 304,000. The 4-week moving average was 296,500, an increase of 2,750 from the previous week's revised average of 293,750.

The advance seasonally adjusted insured unemployment rate was 1.9 percent for the week ending March 4, unchanged from the prior week's unrevised rate of 1.9 percent.

The advance number for seasonally adjusted insured unemployment during the week ending March 4 was 2,445,000, a decrease of 49,000 from the preceding week's revised level of 2,494,000. The 4-week moving average was 2,476,000, a decrease of 14,750 from the preceding week's revised average of 2,490,750.

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 291,258 in the week ending March 11, a decrease of 10,533 from the previous week. There were 307,061 initial claims in the comparable week in 2005.

The advance unadjusted insured unemployment rate was 2.2 percent during the week ending March 4, a decrease of 0.1 percentage point from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 2,873,166, a decrease of 102,134 from the preceding week. A year earlier, the rate was 2.4 percent and the volume was 3,085,920.


Extended benefits were available in Louisiana during the week ending Feb. 25.

Initial claims for UI benefits by former Federal civilian employees totaled 900 in the week ending March 4, an increase of 4 from the prior week. There were 1,979 initial claims by newly discharged veterans, an increase of 226 from the preceding week.

There were 16,730 former Federal civilian employees claiming UI benefits for the week ending Feb. 25, a decrease of 1,122 from the previous week. Newly discharged veterans claiming benefits totaled 28,831, a decrease of 268 from the prior week.
http://www.dol.gov/opa/media/press/eta/ui/current.htm