Jobless claims fall
Initial jobless claims declined to 365,000 claims from last week’s revised 392,000 claims, while continued claims for unemployment benefits declined by 53,000 resulting in an “insured” unemployment rate of 2.6 percent
This chart shows the number of initial and continued claims for unemployment benefits over the past three years. Initial claims fell to 365,000 this week.
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Today’s jobless claims report showed a notable declined to both initial and continued unemployment claims while seasonally adjusted initial claims continued to trend well below the closely watched 400K level.
Seasonally adjusted “initial” declined to 365,000 claims from last week’s revised 392,000 claims while seasonally adjusted “continued” claims declined by 53,000 resulting in an “insured” unemployment rate of 2.6%.
Since the middle of 2008 though, two federal government sponsored “extended” unemployment benefit programs (the “extended benefits” and “EUC 2008” from recent legislation) have been picking up claimants that have fallen off of the traditional unemployment benefits rolls.
Currently there are some 3.07 million people receiving federal “extended” unemployment benefits.
Taken together with the latest 3.42 million people that are currently counted as receiving traditional continued unemployment benefits, there are 6.50 million people on state and federal unemployment rolls.