Unemployment down slightly this week(Read article summary)
Unemployment claims for initial seekers dropped by 1,000, and continued unemployment claims fell by 12,000
Todayâ€™s jobless claims report showed a slight decline to both initial and continued unemployment claims as a rising trend continued to materialize for initial claims.
Seasonally adjusted â€śinitialâ€ť unemployment declined by 1,000 to 428,000 claims from last weekâ€™s revised 429,000 claims while seasonally adjusted â€ścontinuedâ€ť claims declined by 12,000 resulting in an â€śinsuredâ€ť unemployment rate of 2.9%.
Since the middle of 2008 though, two federal government sponsored â€śextendedâ€ť unemployment benefit programs (the â€śextended benefitsâ€ť and â€śEUC 2008â€ť from recent legislation) have been picking up claimants that have fallen off of the traditional unemployment benefits rolls.
Currently there are some 3.92 million people receiving federal â€śextendedâ€ť unemployment benefits.
Taken together with the latest 3.30 million people that are currently counted as receiving traditional continued unemployment benefits, there are 7.41 million people on state and federal unemployment rolls.
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