Jobless claims drop to 2007 lows, but figures likely to be revised

Jobless claims dropped to below 300,000 for the first time since mid-2007, according to the latest data. But the drop appears to be because of under-reporting and the jobless claims number will likely be revised upward.

Jobless claims dropped by 31,000 to 292,000 claims from 323,000 claims for the prior week.

Today’s jobless claims report showed notable declines to both initial and continued unemployment claims as seasonally adjusted initial claims dropped below 300K for the first time since mid-2007 though this steep drop appears to have come as a result of under-reporting and is likely to be revised upward next week. 

Seasonally adjusted “initial” unemployment claims dropped by 31,000 to 292,000 claims from 323,000 claims for the prior week while seasonally adjusted “continued” claims declined by 73,000 claims to 2.871 million resulting in an “insured” unemployment rate of 2.2%. 

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 1.45 million people receiving federal “extended” unemployment benefits. 

Taken together with the latest 2.74 million people that are currently counted as receiving traditional continued unemployment benefits, there are 4.19 million people on state and federal unemployment rolls. 

You've read  of  free articles. Subscribe to continue.

Dear Reader,

About a year ago, I happened upon this statement about the Monitor in the Harvard Business Review – under the charming heading of “do things that don’t interest you”:

“Many things that end up” being meaningful, writes social scientist Joseph Grenny, “have come from conference workshops, articles, or online videos that began as a chore and ended with an insight. My work in Kenya, for example, was heavily influenced by a Christian Science Monitor article I had forced myself to read 10 years earlier. Sometimes, we call things ‘boring’ simply because they lie outside the box we are currently in.”

If you were to come up with a punchline to a joke about the Monitor, that would probably be it. We’re seen as being global, fair, insightful, and perhaps a bit too earnest. We’re the bran muffin of journalism.

But you know what? We change lives. And I’m going to argue that we change lives precisely because we force open that too-small box that most human beings think they live in.

The Monitor is a peculiar little publication that’s hard for the world to figure out. We’re run by a church, but we’re not only for church members and we’re not about converting people. We’re known as being fair even as the world becomes as polarized as at any time since the newspaper’s founding in 1908.

We have a mission beyond circulation, we want to bridge divides. We’re about kicking down the door of thought everywhere and saying, “You are bigger and more capable than you realize. And we can prove it.”

If you’re looking for bran muffin journalism, you can subscribe to the Monitor for $15. You’ll get the Monitor Weekly magazine, the Monitor Daily email, and unlimited access to

QR Code to Jobless claims drop to 2007 lows, but figures likely to be revised
Read this article in
QR Code to Subscription page
Start your subscription today