Jobless claims up by 4,000(Read article summary)
Thursday's jobless claims report from the US Department of Labor showed a slight increase in jobless claims.
Todayâ€™s jobless claims reportÂ indicated that both initial unemployment increase slightly while continued unemployment claims went flat as seasonally adjusted initial claims remained just below the closely watched 400K level.Â
Seasonally adjusted â€śinitialâ€ť unemployment claims increased by 4,000 to 367,000 claims from a revised 363,000 claims for the prior week while seasonally adjusted â€ścontinuedâ€ť went flat 3.281 million resulting in an â€śinsuredâ€ť unemployment rate of 2.6%.Â
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.Â
Currently there are some 2.14 million people receiving federal â€śextendedâ€ť unemployment benefits.Â
Taken together with the latest 2.84 million people that are currently counted as receiving traditional continued unemployment benefits, there are 5.00 million people on state and federal unemployment rolls.Â