Jobless claims on the rise
'Initial' unemployment claims increased by 1,000 to 308,000 claims, and 'continued' claims jumped 104,000 to 2.925 million claims.
Today’s jobless claims report showed a increases to both initial and continued jobless claims as seasonally adjusted initial claims remained over the 300K level.
Seasonally adjusted “initial” unemployment claims increased by 1,000 to 308,000 claims from 307,000 claims for the prior week while seasonally adjusted “continued” claims increased by a notable 104,000 claims to 2.925 million resulting in an “insured” unemployment rate of 2.3%.
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.
Subscribe Today to the Monitor
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 1.47 million people receiving federal “extended” unemployment benefits.
Taken together with the latest 2.46 million people that are currently counted as receiving traditional continued unemployment benefits, there are 3.93 million people on state and federal unemployment rolls.
RECOMMENDED: Five high-paying jobs for high school graduates
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.