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Adjusted initial jobless claims decline, continued claims flat

The latest jobless claims numbers show a decline to initial unemployment claims and a flattening to continued unemployment claims while seasonally adjusted initial claims remained below the closely watched 400K level.

By Guest blogger / June 21, 2012

This chart shows total continued unemployment claims over the past two years. Today’s report showed a decline to initial unemployment claims and a flattening to continued unemployment claims.

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Today’s jobless claims report showed an decline to initial unemployment claims and a flattening to continued unemployment claims while seasonally adjusted initial claims remained below the closely watched 400K level.

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Writer, The PaperEconomy Blog

'SoldAtTheTop' is not a pessimist by nature but a true skeptic and realist who prefers solid and sustained evidence of fundamental economic recovery to 'Goldilocks,' 'Green Shoots,' 'Mustard Seeds,' and wholesale speculation.

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Seasonally adjusted “initial” declined to 387,000 claims from last week’s revised 389,000 claims while seasonally adjusted “continued” claims went flat resulting in an “insured” unemployment rate of 2.6%.

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.

Currently there are some 2.64 million people receiving federal “extended” unemployment benefits.

Taken together with the latest 3.09 million people that are currently counted as receiving traditional continued unemployment benefits, there are 5.73 million people on state and federal unemployment rolls.

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