Adjusted initial jobless claims decline, continued claims flat(Read article summary)
The latest jobless claims numbers show a decline to initial unemployment claims and a flattening to continued unemployment claims while seasonally adjusted initial claims remained below the closely watched 400K level.
Todayâ€™s jobless claims report showed an decline to initial unemployment claims and a flattening to continued unemployment claims while seasonally adjusted initial claims remained below the closely watched 400K level.
Seasonally adjusted â€śinitialâ€ť declined to 387,000 claims from last weekâ€™s revised 389,000 claims while seasonally adjusted â€ścontinuedâ€ť claims went flat resulting in an â€śinsuredâ€ť unemployment rate of 2.6%.
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 2.64 million people receiving federal â€śextendedâ€ť unemployment benefits.
Taken together with the latest 3.09 million people that are currently counted as receiving traditional continued unemployment benefits, there are 5.73 million people on state and federal unemployment rolls.