Thursday, December 22, 2011

Jobless Claims Fall to Lowest Level Since Mid-2008

In another sign that the U.S. labor market is gradually improving, the Labor Department reported today that initial weekly claims for unemployment fell last week to 364,000 (seasonally adjusted), which is the lowest weekly claims count since April 2008, more than three and-a-half years ago.  The four-week moving average fell to 380,250 claims, the lowest level since June 2008.  

The bottom chart above shows jobless claims adjusted for the size of the labor force by displaying jobless claims as a percent of civilian employment.  That adjusted measure of jobless claims is also showing an ongoing decline from the March 2009 peak, to a level that is now far below the post-recession levels in the 1970s and 1980s, and should be consistent with a gradual, but continuing decline in the jobless rate in 2012.  


At 12/22/2011 9:40 AM, Blogger morganovich said...

i'm going to be very interested to see what happens to these claims numbers in january.

anecdotally, i am hearing about significant planned layoffs in january. this may just be a december effect where employers to not want to fire people over the holidays.

At 12/22/2011 10:27 AM, Blogger juandos said...

Gee! Who do believe? Obama's BLS spinmeisters or Gallup polling?

December 19, 2011

U.S. Underemployment in Mid-December Similar to a Year Ago

Unemployment is at 8.7%, with 9.7% working part time but seeking full-time jobs
by Dennis Jacobe, Chief Economist

Underemployment, a measure that combines the percentage of workers who are unemployed with the percentage working part time but wanting full-time work, is 18.4% in mid-December, as measured by Gallup without seasonal adjustment. This is up slightly from 18.1% at the end of November and similar to the 18.5% of a year ago.

At 12/22/2011 10:42 AM, Blogger Buddy R Pacifico said...

From the latest Philly Fed Manufacturing Index report:

The percentage of firms expecting to increase employment over the next six months (24 percent) is significantly higher than the percentage expecting to decrease employment (11 percent)."

Read more:

At 12/22/2011 12:54 PM, Blogger Larry G said...

is there any thought that the mortgage / housing situation is affecting a recovery?

In other words.. housing has not recovered which means (I think) that people who got out of their mortgages... now have more available discretionary money to spend since they no longer have a fat mortgage bill.

Others have moved in with parents or even vice versa... essentially more people living in fewer homes.. turn should free up money for other things...

one thing to look at in the employment numbers is the labor for home construction... which ought to be way down...

so if employment is increasing.. is it due to home construction or something else?

At 12/23/2011 4:12 AM, Blogger Ron H. said...

"is there any thought that the mortgage / housing situation is affecting a recovery?"



Post a Comment

<< Home