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13:30 Dados States
U.S. continuing jobless claims rise 20,000 to 2.57 mln
U.S. continuing jobless claims rise to 3-month high
U.S. 4-week average initial claims fall to 312,000
U.S. first-time jobless claims fall to 2-month low
U.S. weekly initial jobless claims fall 8,000 to 301,000
ECONOMIC REPORT: Initial jobless claims fall to 2-month low; Continuing jobless claims rise to 3-month high
By Rex Nutting, MarketWatch Last Update: 8:30 AM ET Jul 19, 2007
WASHINGTON (MarketWatch) - Fewer Americans were laid off from their jobs last week, but the ones who've been let go are finding it harder to get work again, Labor Department data released Thursday show.
The number of workers filing for state unemployment benefits fell by 8,000 to a seasonally 301,000 in the week ending on July 14, the Labor Department reported Thursday.
It's the lowest number of initial jobless claims in two months.
The four-week moving average of new claims - which smoothes out distortions caused by one-time events such as holidays and weather -fell by 6,250 to 312,000, the lowest in five weeks.
Meanwhile, the number of people continuing to collect unemployment benefits rose by 20,000 in the week ending July 7 to a seasonally adjusted 2.57 million, the most in three months. The four-week average of continuing claims rose to 2.54 million, the most in four months.
The jobless claims data are buffeted this time of year by the timing of layoffs in the auto industry to shut down production lines so they can be retooled for next year's models. The layoffs in various companies come at different times each year, making seasonal adjustments difficult.
In the week ending July 7, auto layoffs were reported in Michigan, Ohio and Indiana.
The insured unemployment rate - the portion of all workers covered by unemployment insurance who are collecting benefits - stayed at 1.9%.
Economists say initial claims in the range of about 300,000 to 325,000 are consistent with healthy job growth of about 150,000 per month. Consistent levels over 350,000 would signal some weakening in the labor market, while a sustained drop below 300,000 could show further tightening in an already tight labor market.
Initial claims represent job destruction, while the level of continuing claims indicates how hard or easy it is for displaced workers to find new jobs.
Compared with the same time last year, initial claims are down about 1% while continuing claims are up about 4%.
Long-term unemployment has been stubbornly high during this expansion, despite the decrease in the unemployment rate to 4.4%. In June, about 33%, or 2.3 million, of the 6.9 million officially unemployed people had been out of work longer than 15 weeks, including 1.1 million who had been out of work longer than 27 weeks.
Typically, unemployment benefits run out after 26 weeks for those who are eligible. Benefits are available for those who lose their job through no fault of their own. Those who exhaust their unemployment benefits are still counted as unemployed if they are looking for work.
The unemployment statistics also count people who are entering the workforce, or who left their jobs voluntarily
U.S. continuing jobless claims rise to 3-month high
U.S. 4-week average initial claims fall to 312,000
U.S. first-time jobless claims fall to 2-month low
U.S. weekly initial jobless claims fall 8,000 to 301,000
ECONOMIC REPORT: Initial jobless claims fall to 2-month low; Continuing jobless claims rise to 3-month high
By Rex Nutting, MarketWatch Last Update: 8:30 AM ET Jul 19, 2007
WASHINGTON (MarketWatch) - Fewer Americans were laid off from their jobs last week, but the ones who've been let go are finding it harder to get work again, Labor Department data released Thursday show.
The number of workers filing for state unemployment benefits fell by 8,000 to a seasonally 301,000 in the week ending on July 14, the Labor Department reported Thursday.
It's the lowest number of initial jobless claims in two months.
The four-week moving average of new claims - which smoothes out distortions caused by one-time events such as holidays and weather -fell by 6,250 to 312,000, the lowest in five weeks.
Meanwhile, the number of people continuing to collect unemployment benefits rose by 20,000 in the week ending July 7 to a seasonally adjusted 2.57 million, the most in three months. The four-week average of continuing claims rose to 2.54 million, the most in four months.
The jobless claims data are buffeted this time of year by the timing of layoffs in the auto industry to shut down production lines so they can be retooled for next year's models. The layoffs in various companies come at different times each year, making seasonal adjustments difficult.
In the week ending July 7, auto layoffs were reported in Michigan, Ohio and Indiana.
The insured unemployment rate - the portion of all workers covered by unemployment insurance who are collecting benefits - stayed at 1.9%.
Economists say initial claims in the range of about 300,000 to 325,000 are consistent with healthy job growth of about 150,000 per month. Consistent levels over 350,000 would signal some weakening in the labor market, while a sustained drop below 300,000 could show further tightening in an already tight labor market.
Initial claims represent job destruction, while the level of continuing claims indicates how hard or easy it is for displaced workers to find new jobs.
Compared with the same time last year, initial claims are down about 1% while continuing claims are up about 4%.
Long-term unemployment has been stubbornly high during this expansion, despite the decrease in the unemployment rate to 4.4%. In June, about 33%, or 2.3 million, of the 6.9 million officially unemployed people had been out of work longer than 15 weeks, including 1.1 million who had been out of work longer than 27 weeks.
Typically, unemployment benefits run out after 26 weeks for those who are eligible. Benefits are available for those who lose their job through no fault of their own. Those who exhaust their unemployment benefits are still counted as unemployed if they are looking for work.
The unemployment statistics also count people who are entering the workforce, or who left their jobs voluntarily
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