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Economy in Brief

U.S. Weekly Initial Unemployment Insurance Claims Slip
by Tom Moeller  October 27, 2011

Initial claims for jobless insurance slipped to 402,000 last week versus 404,000 a week earlier (revised from 403,000). The latest figure compared to 400,000 as expected in the Action Economics survey. The 4-week moving average of claims ticked up to 405,500, still near its lowest since mid-August.

Continuing claims for unemployment insurance fell to 3.645M in the October 15th week. The insured unemployment rate slipped to 2.9%. By state, the rate varied as of October 8th with Virginia (1.4%), New Hampshire (1.6%), Texas (1.7%), Minnesota (1.7%), Indiana (1.8%), Tennessee (2.0%) and Florida (2.1%) at the low end of the range. The rates in Illinois (2.9%), South Carolina (2.9%), Connecticut (3.1%), Nevada (3.2%), California (3.3%), New Jersey (3.3%) and Pennsylvania (3.5%) were at the high end.

The grand total of those receiving unemployment insurance, including extended programs run by the states and the federal government, was 6.682M as of October 8, down by nearly one-quarter y/y. Regular extended benefits, with eligibility dependent on conditions in individual states, were roughly stable at 526,435 (-39.9% y/y) and those on the special "EUC 2008" programs fell to 2.922M (-22.7% y/y).

Data on weekly unemployment insurance programs are contained in Haver's WEEKLY database, including the seasonal factor series, and they are summarized monthly in USECON. Data for individual states, including the unemployment rates that determine individual state eligibility for the extended benefits programs and specific "tiers" of the emergency program, are in REGIONW, a database of weekly data for states and various regional divisions. Action Economics estimates are in AS1REPNA.

Employment at a Standstill, Inflationary Pressures Linger from the Federal Reserve Bank of Dallas can be found here.

Unemployment Insurance (000s) 10/22/11 10/15/11 10/8/11 Y/Y% 2010 2009 2008
Initial Claims 402 404 411 -7.6 461 577 413
Continuing Claims -- 3,645 3,741 -16,3 4,544 5,807 3,338
 Insured Unemployment Rate(%) -- 2.9 3.0 3.5
3.6 4.4 2.5
Total "All Programs" (NSA) -- -- 6.682M -21.4 9.850M 9.163M 3.903M
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