Jobless claims jump by 32,000(Read article summary)
Jobless claims increased by 32,000 to 360,000 from 328,000 claims for the prior week, according to the latest jobless claims report.
Todayâ€™s jobless claims reportÂ showed a notable increase to initial unemployment claims and a slight decline to continued unemployment claims as initial claims trended well below the closely watched 400K level.Â
Seasonally adjusted â€śinitialâ€ť unemployment claims increased by 32,000 to 360,000 claims from 328,000 claims for the prior week while seasonally adjusted â€ścontinuedâ€ť claims declined by 4,000 claims to 3.009 million resulting in an â€śinsuredâ€ť unemployment rate of 2.3%.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 1.79 million people receiving federal â€śextendedâ€ť unemployment benefits.Â
Taken together with the latest 2.97 million people that are currently counted as receiving traditional continued unemployment benefits, there are 4.76 million people on state and federal unemployment rolls.Â