Unemployment claims continue to drop

 “Initial” unemployment claims declined 23,000 to 381,000 from last week, while  “continued” claims declined by 174,000.

By , Guest blogger

  • close
    This chart shows the rates of initial and continued unemployment claims since 2009. Initial unemployment claims dropped by 23,000 over the past week.
    View Caption

Today’s jobless claims report showed notable declines to both initial and continued unemployment claims as a slight rising trend was firmly called into question for initial claims.

Seasonally adjusted “initial” unemployment declined 23,000 to 381,000 claims from last week’s revised 404,000 claims while seasonally adjusted “continued” claims declined by 174,000 resulting in an “insured” unemployment rate of 2.8%.

Since the middle of 2008 though, two federal government sponsored “extended” unemployment benefit programs (the “extended benefits” and “EUC 2008” from recent legislation) have been picking up claimants that have fallen off of the traditional unemployment benefits rolls.

Recommended: Could you pass a US citizenship test?

Currently there are some 3.30 million people receiving federal “extended” unemployment benefits.

Taken together with the latest 3.16 million people that are currently counted as receiving traditional continued unemployment benefits, there are 6.47 million people on state and federal unemployment rolls.

The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here.To add or view a comment on a guest blog, please go to the blogger's own site by clicking on paper-money.blogspot.com.

Share this story:

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...