July 17, 2014

Initial Unemployment Claims (071714): 302K SA Claims; Raw Claims Down 10% from Same Week Last Year

Filed under: Economy,Taxes & Government — Tom @ 8:29 am

Predictions:

The report will be here at 8:30.

HERE IT IS (permanent link):

SEASONALLY ADJUSTED DATA

In the week ending July 12, the advance figure for seasonally adjusted initial claims was 302,000, a decrease of 3,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 304,000 to 305,000. The 4-week moving average was 309,000, a decrease of 3,000 from the previous week’s revised average. This is the lowest level for this average since June 2, 2007 when it was 307,500. The previous week’s average was revised up by 500 from 311,500 to 312,000.

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 369,591 in the week ending July 12, an increase of 47,079 (or 14.6 percent) from the previous week. The seasonal factors had expected an increase of 49,945 (or 15.5 percent) from the previous week. There were 410,974 initial claims in the comparable week in 2013.

The seasonal adjustment factors took care of what is apparently a normal uptick in raw claims during the first full week after the July 4 holiday.

Whether it was just a one-time uptick is something we’ll have to see next week.

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2 Comments

  1. I wish the reduced firings translated into increased employment, but that hasn’t exactly been happening.

    On the related economic front, housing starts and permits for June were the latest economic statistics to underperform. Is it too early to open up the pool on how far below $17,016B (1Q 3rd estimate nominal)/$15,824.2B (1Q 3rd estimate real, in 2009 chained dollars) 2nd-quarter GDP comes in at?

    Comment by steveegg — July 17, 2014 @ 9:01 am

  2. [...] a weekly report on initial claims for unemployment insurance will say applications rose.” Last week came in with 302,000 seasonally adjusted [...]

    Pingback by BizzyBlog — July 24, 2014 @ 7:06 am

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