ETA News Release: Unemployment Insurance Weekly Claims Report (10/25/2012)

[mahatmakanejeeves]

Source: Department of Labor, Employment and Training Admin

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA

In the week ending October 20, the advance figure for seasonally adjusted initial claims was 369,000, a decrease of 23,000 from the previous week's revised figure of 392,000. The 4-week moving average was 368,000, an increase of 1,500 from the previous week's revised average of 366,500.

The advance seasonally adjusted insured unemployment rate was 2.5 percent for the week ending October 13, unchanged from the prior week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending October 13 was 3,254,000, a decrease of 2,000 from the preceding week's revised level of 3,256,000. The 4-week moving average was 3,269,750, a decrease of 6,750 from the preceding week's revised average of 3,276,500.

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 342,702 in the week ending October 20, a decrease of 20,032 from the previous week. There were 377,156 initial claims in the comparable week in 2011.
....

The largest increases in initial claims for the week ending October 13 were in California (+26,935), Florida (+3,947), Ohio (+1,936), Washington (+1,435), and Alaska (+1,383), while the largest decreases were in New York (-3,395), New Jersey (-1,311), Georgia (-1,285), Massachusetts (-1,141), and Kentucky (-982).

Read more: http://www.dol.gov/opa/media/press/eta/ui/eta20122119.htm

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Good morning, Freepers and DUers alike. It is time once again for the weekly unemployment insurance initial claims report, brought to you as a nonpartisan public service. I ask you to put aside your differences long enough to read this post. Following that, you can engage in your usual donnybrook.

There was big decrease this week, following a big increase last week and a big decrease the week before that. California got its numbers in on time, so there must be some other factor that accounts for the unusual swings.

I can't recall when I started posting the number every week, but this has probably been going on for at least a year. I seriously do not care if the week's data make Obama look good, or Romney look good, or Chairman Mao look good, or anybody else. They are just numbers, and I post them without regard to the consequences.

You will also note that I welcome people from Free Republic to examine the numbers as well. They paid for the work just as much as members of DU did, so I invite them to come on over and have a look. "The more the merrier" is the way I look at it.

I do not work at the ETA, and I do not know anyone working in that agency. I'm sure I can safely assume that the numbers are gathered and analyzed by career civil servant economists who do their work on a nonpartisan basis. Numbers are numbers, and let the chips fall where they may. If you feel that these economists are falling down on the job, drop them a line or give them a call. They work for you, not for any politician or political party. Maybe they're all voting for Romney. That's up to them.

[1StrongBlackMan]

1. But ... But ...

wait for it ... "The unemployment numbers dropped (again) because a gazillion frustrated workers dropped out of the workforce."

{rwing narrative bought to you by our favorite market-worshipping DUer ... that will go un-named; you'll recognize him/her when she post his/her head up.}

[dmallind]

3. I think it's doomlust not rw narratives that make many DUers seek out such twaddle

There is a significant group here who are committed to and apparently eagerly awaiting the utter collapse of the US and even global economy, and pounce on any real or imagined datum that suggests it is imminent.

I don't know if they think the unimaginable horror that would cause for tens of millions is worth it as long as it humbles a few thousand ultra-wealthy, or if they fondly imagine a workers' paradise of egalitarian collectivism will rise from capitalism's ashes (rather than the totalitarian autocracy or warlord-dominated anarchy that real world examples provide). I just know that it's impossible for them to admit that slight slow improvement can be real (note to doomers - this is very different from your inevitable strawman of Panglossean paradise whenever anyone foresees anything better than fights to the death over a cup of rat stew in the near future).

Worth pointing out that yes I fo know that people leaving the workforce has no impact whatsoever on initial claims, which by definition count only those still in the workforce. The issue here is the responses to even insipidly optimistic economic news like this.

[1StrongBlackMan]

4. Well said! n/t

[DallasNE]

2. The Two Most Important Numbers

Are the 4-week moving average (it was up an insignifant 1,500) and the comparison to same week last year (down a significant 30,000). Recent numbers suggest a decent employment number for October that will be released the Friday before the election.