ETA News Release: Unemployment Insurance Weekly Claims Report (05/24/2012)
Source: Department of Labor, Employment and Training Admin
UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT
SEASONALLY ADJUSTED DATA
In the week ending May 19, the advance figure for seasonally adjusted initial claims was 370,000, a decrease of 2,000 from the previous week's revised figure of 372,000. The 4-week moving average was 370,000, a decrease of 5,500 from the previous week's revised average of 375,500.
The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending May 12, unchanged from the prior week's unrevised rate.
The advance number for seasonally adjusted insured unemployment during the week ending May 12 was 3,260,000, a decrease of 29,000 from the preceding week's revised level of 3,289,000. The 4-week moving average was 3,271,500, a decrease of 17,250 from the preceding week's revised average of 3,288,750.
UNADJUSTED DATA
The advance number of actual initial claims under state programs, unadjusted, totaled 327,595 in the week ending May 19, an increase of 2,515 from the previous week. There were 376,632 initial claims in the comparable week in 2011.
Read more: http://www.dol.gov/opa/media/press/eta/ui/eta20121044.htm
Good morning, Freepers and DUers alike. It is time once again for the weekly unemployment insurance initial claims report.
Here for your viewing pleasure are this week's data, brought to you as a nonpartisan public service. This is just one example of the good work your civil servants are performing for you.
The number is down this week, but just barely.
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 EDTA, 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.
The word "initial" is important. The report does not count all claims, just the new ones filed this week.
Note: The seasonal adjustment factors used for the UI Weekly Claims data from 2007 forward, along with the resulting seasonally adjusted values for initial claims and continuing claims, have been revised. These revised historical values, as well as the seasonal adjustment factors that will be used through calendar year 2012, can be accessed at the bottom of the following link: http://www.oui.doleta.gov/press/2012/032911.asp
That's a bad link right now. It has been bad for about a month and a half, too. Try:
http://www.oui.doleta.gov/unemploy/finance.asp
= new reply since forum marked as read
They printed at -1.9% on expectations of a 0.8% print. And the March number was revised sharply downward from -0.8% to -2.2%.
http://www.census.gov/manufacturing/m3/adv/pdf/durgd.pdf?tw_p=twt
Major downward revisions to US Q1 GDP will be coming soon, along with downward projections for Q2.
The Fed will be under tremendous pressure to unleash QE3 (in some form under another gimmick name) at its June meeting, which will ignite not only core inflation and dollar depreciation (thus dramatically higher consumer prices), but a shitstorm of political controversy too, this close to the November election.
