Jobless claims fall to 350000(Read article summary)
Jobless claims declined by 12,000 to 350,000 claims from 362,000 claims for the prior week, according to the latest jobless claims report.
Todayâ€™s jobless claims reportÂ showed decreases to both initial and continued unemployment claims as seasonally adjusted initial claims continued to trend below the closely watched 400K level.Â
Seasonally adjusted â€śinitialâ€ť unemployment claims declined by 12,000 to 350,000 claims from 362,000 claims for the prior week while seasonally adjusted â€ścontinuedâ€ť claims declined by 8,000 claims to 2.874 million resulting in an â€śinsuredâ€ť unemployment rate of 2.2%.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 1.32 million people receiving federal â€śextendedâ€ť unemployment benefits.Â
Taken together with the latest 2.43 million people that are currently counted as receiving traditional continued unemployment benefits, there are 3.76 million people on state and federal unemployment rolls.Â