Unemployment claims up due to snow

[Enrique]

Source: Associated Press

http://www.google.com/hostednews/ap/article/ALeqM5gax7-mZ54EvjDuhQdhRZ6X4P98Vw?docId=16f5262ffcb54087ae1206064b1964eb

WASHINGTON (AP) — The number of people applying for unemployment benefits rose sharply last week, but the figures were largely distorted by rare snowstorms that swept through the Southeast.
Applications surged last week by a seasonally adjusted 51,000 to 454,000, the highest level since late October, the Labor Department said Thursday.

A government analyst said that a major reason for the spike was the harsh weather in Alabama, Georgia, North Carolina and South Carolina. That forced many companies to shut down temporarily and also prevented many people from applying for benefits in the previous week.

When state offices, which had closed, reopened and people were able to file applications that pushed the number of requests up sharply, the analyst said.

The four southern states reported a large increases in the number of requests for unemployment benefits. Trucking companies, delivery firms, construction companies and others were affected.
Applications had been declining steadily for several weeks. Requests for unemployment benefits fell sharply in the previous week to 403,000.

(...)

Read more: http://www.google.com/hostednews/ap/article/ALeqM5gax7-mZ54EvjDuhQdhRZ6X4P98Vw?docId=16f5262ffcb54087ae1206064b1964eb

[doc03]

1. I think we have reached the point where they are

running out of excuses. The unemployment ticks down a little one week the economy is picking up, happy days are here again. The next week the unemployment ticks back up, it's the snow, the cold etc.

[Broderick]

2. +1

[DesertDiamond]

3. The REAL distortion is claiming employment is UP because the 99ers fell of the rolls.

[Beacool]

6. Yeah, like a friend of mine who hasn't gotten a job for over a 1 1/2 years.

She just stopped receiving checks. Now she will have to live on her savings, but how long will they last?

:(

[Statistical]

7. 99er falling off the rolls have nothing to do w/ U-3.

Receiving (or not receiving) UI benefits has nothing to do with Unemployment rate.

The only distortion is people who keep claiming they do.

[Safetykitten]

4. From Ministry of Information...Snow

[Beacool]

5. Yeah, it's always something.

It's the heat, it's Thanksgiving, it's the holidays, now it's the snow. In April the excuse will probably be that it's the Easter Bunny's fault.

:eyes:

[Godhumor]

8. The trend for initial claims has been very positive

A 1 week blip, regardless of reason, does not negate the trend.

Unfortunately, I am having trouble loading the graph to show the 4-week moving average trend, but it can be found at

http://www.calculatedriskblog.com/2011/01/weekly-initial-unemployment-claims_27.html

[Beacool]

9. Thanks, I'll check it out.

:hi:

[Statistical]

10. Moving averages are always more useful. Here is the graph.

[SlipperySlope]

11. But initial claims aren't the only important thing

The employment-population ratio and participation rate aren't telling a pretty story either.

[zogofzorkon]

12. Washington offers a snow job to help the numbers n/t