| Personal income increased $43.7 billion, or 0.3 percent, and disposable personal income (DPI) increased $44.6 billion,
or 0.3 percent, in April. Personal consumption expenditures (PCE)
decreased $8.1 billion, or 0.1 percent. In March, personal income increased $76.3 billion, or 0.5 percent, DPI increased $65.0 billion, or 0.5 percent, and PCE increased $117.6 billion, or 1.0 percent, based on revised estimates. Real DPI increased 0.2 percent in April, compared with an increase of 0.3 percent in March. Real PCE decreased 0.3 percent, in contrast to an increase of 0.8 percent. See the complete report at this link: USDOC-BEA |
31 May 2014
• U.S. Personal Income – April 2014
29 May 2014
• Get ready during National Hurricane Preparedness Week
 ”During National Hurricane Preparedness Week, May 25-31, we have the opportunity to ensure that our families and communities are healthy and prepared for this hurricane season.” Please visit this link to read the full article: HHS.gov |
• U.S. Gross Domestic Product (Second Estimate) – Q1 2014
|
Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- decreased at an annual rate of 1.0 percent in the first quarter according to
the "second" estimate. In the fourth quarter, real GDP
increased 2.6 percent.
The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, real GDP was estimated to have increased 0.1 percent. With this second estimate for the first quarter, the decline in private inventory investment was larger than previously estimated. The decrease in real GDP in the first quarter primarily reflected negative contributions from private inventory investment, exports, nonresidential fixed investment, state and local government spending, and residential fixed investment that were partly offset by a positive contribution from personal consumption expenditures. Imports, which are a subtraction in the calculation of GDP, increased. See the complete report at this link: USDOC-BEA |
• U.S. Initial Unemployment Claims – 24 May 2014
| In the week ending May 24, the advance figure for seasonally adjusted initial claims was 300,000, a decrease of 27,000
from the previous week's revised level. The previous week's level was revised up by 1,000 from 326,000 to 327,000. The 4-week moving average was 311,500, a decrease of 11,250 from the previous week's revised average. This is the lowest level for this average since August 11, 2007 when it was 311,250. The previous week's average was revised up by 250 from 322,500 to 322,750. The advance seasonally adjusted insured unemployment rate was 2.0 percent for the week ending May 17, unchanged from the previous week's unrevised rate. The highest insured unemployment rates in the week ending May 10 were in Alaska (4.3), Puerto Rico (3.3), California (3.0), New Jersey (3.0), Connecticut (2.8), Pennsylvania (2.8), Nevada (2.6), Illinois (2.5), Massachusetts (2.3), Oregon (2.3), Rhode Island (2.3), and Virgin Island (2.3). The largest increases in initial claims for the week ending May 17 were in Michigan (+5,809), California (+4,477), Kansas (+2,492), Missouri (+2,034), and Pennsylvania (+1,181), while the largest decreases were in Wisconsin (-1,870), New York (-1,348), Minnesota (-1,001), Florida (-664), and Tennessee (-620). Note: “Insured unemployment rate” refers to individuals who are unemployed and receiving UC benefits. See the complete report at this link: USDOL-BLS |
28 May 2014
• U.S. Metropolitan Area Employment and Unemployment - April 2014
| Unemployment rates were lower in April than a year earlier in 357 of the 372
metropolitan areas, higher in 12 areas, and unchanged in 3 areas. Fourteen areas had jobless rates
of at least 10.0 percent and 118 areas had rates of less than 5.0 percent.
Nonfarm payroll employment increased over the year in 302 metropolitan areas, decreased in 63 areas, and was unchanged in 7 areas. See the complete report at this link: USDOL-BLS |
23 May 2014
• NSC Estimates Nearly 400 Fatalities from Crashes this Memorial Day Weekend - 2014
| The National Safety Council has released its estimates of fatalities from traffic crashes for the upcoming Memorial Day holiday weekend, beginning at 6 p.m. on Friday, May 23, and ending at 11:59 p.m. on Monday, May 26. The Council estimates 382 traffic fatalities and another 40,900 medically consulted injuries may occur over the traditional summer kick-off weekend from motor vehicle collisions.
“Memorial Day marks the beginning of summer celebrations, but sadly, we know this long holiday weekend will end with too many preventable deaths and injuries,” said Deborah Hersman, NSC president and CEO. “We issue these estimates to draw attention to risks on the roadways and encourage drivers to take extra precautions so needless tragedies can be prevented.” Studies have shown that safety belts are 45 percent effective in preventing fatalities. It is estimated that 139 lives may be saved Memorial Day Weekend because of people wearing their safety belts. To ensure a safe Memorial Day celebration, NSC recommends buckling up every trip, every time – even when traveling a short distance. Be sure to also keep these tips in mind before heading out the door: • Refrain from all cell phone use – both hands-free and handheld – behind the wheel • Place children in age-appropriate safety seats • Do not drink and drive as impairment begins with the first drink – if you drink, designate a sober driver or take alternate transportation • Drive defensively and exercise caution, especially during bad weather See the complete report at this link: National Safety Council |
22 May 2014
• U.S. Initial Unemployment Claims – 17 May 2014
| In the week ending May 17, the advance figure for seasonally adjusted initial claims was 326,000, an increase of 28,000
from the previous week's revised level. The previous week's level was revised up by 1,000 from 297,000 to 298,000. The 4-week moving average was 322,500, a decrease of 1,000 from the previous week's revised average. The previous week's average was revised up by 250 from 323,250 to 323,500. The advance seasonally adjusted insured unemployment rate was 2.0 percent for the week ending May 10, unchanged from the previous week's unrevised rate. The highest insured unemployment rates in the week ending May 3 were in Alaska (4.7), New Jersey (3.1), Puerto Rico (3.1), California (3.0), Connecticut (2.8), Pennsylvania (2.8), Nevada (2.7), Illinois (2.6), Virgin Islands (2.6), and Massachusetts (2.4). The largest increases in initial claims for the week ending May 10 were in Mississippi (+1,183), Georgia (+1,147), Tennessee (+730), Minnesota (+587), and North Carolina (+324), while the largest decreases were in California (-7,651), Massachusetts (-2,316), Pennsylvania (-1,408), New York (-1,391), and Florida (-1,230). Note: “Insured unemployment rate” refers to individuals who are unemployed and receiving UC benefits. See the complete report at this link: USDOL-BLS |
16 May 2014
• Connecticut's Employment Situation - April 2014
| Preliminary nonfarm employment estimates from the business establishment
payroll survey show a pattern of continuing job growth for Connecticut. The state added 2,200 total nonfarm jobs
(0.1%) in April for the third consecutive monthly increase and has now added 6,900 jobs (0.4%) over the year.
Private sector job gains composed 1,800 (0.1%) of last month’s increase and are stronger over the year (10,800,
0.8%) compared to overall nonfarm employment.
Connecticut’s unemployment rate was estimated at 6.9% in April, down one-tenth of a percentage point from March 2014, and down nine-tenths of a percentage point from the 7.8% rate a year ago. The underlying statistical components of the unemployment rate are quite positive trends with the first yearly gain in civilian labor force since March 2011, and the strongest annual residential employment gain (19,595, 1.1%) since April 2007. The number of unemployed residents declined 2,023 (-1.6%) in April and has declined by 17,302 (-11.9%) since April 2013. “Both the establishment and household employment surveys are pointing to an improving labor market going forward for the state after extreme winter volatility,” said Andy Condon, Director of the Office of Research. “The expanding labor force, growing private sector work hours, and diminishing unemployment are encouraging signs for Connecticut’s economy. Even though the pace of Connecticut’s employment recovery is moderate, it seems to be on solid footing.” Nonfarm Jobs (business establishment survey) Nonfarm job estimates for the state increased again in April adding 2,200 (0.1%) to payrolls. This is the third straight monthly job gain. Over-the-year, nonfarm employment has increased 6,900 positions (0.4%). Job gains were 1,400 for February, 4,000 in March, and 2,200 in April (7,600 net positions in the last three months) and this helped make up for some of the job loss from the extreme January weather-related decline (-10,900). The three-month moving average of nonfarm employment (page 7), used to smooth month-to-month volatility, is depicting this spring rebound. At the major industry supersector level, nonfarm job gains and losses were modest in April as no supersector changed by more than a thousand positions. Six major industry supersectors added positions and four declined. The trade, transportation, and utilities (800, 0.3%) supersector led the job gainers. Transportation components were the most robust in this grouping, while a later-than-usual Easter had little impact on retail or wholesale trade. Also growing were the leisure and hospitality (700, 0.5%) and education and health services (700, 0.2%) supersectors. Restaurants and hotels continue to be a strong contributor for leisure sectors, while colleges and universities resumed pace after the March spring break. Financial activities (500, 0.4%) were also positive in April with both real estate and finance and insurance drifting higher. The combined construction and mining (400, 0.7%) supersector, which had been fairly resilient this winter, continued to add jobs. The government supersector (400, 0.2%) also saw a small increase in April but has lost the most jobs of any supersector over the year (-3,900, 1.6%). Government has lost the most jobs since the overall employment recovery began (-11,100) in February 2010. The four job-losing industry supersectors were led down by professional and business services (-600, -0.3%). The other services (-400, -0.6%) supersector was also lower in April. The manufacturing supersector (-200, -0.1%) components were also slightly lower. Durable goods was off (-400, -0.3%). The information (-100, -0.3%) supersector was just slightly down. Recession recovery: Connecticut has recovered 66,300 positions, or 55.7% of the 119,100 seasonally adjusted total nonfarm jobs that were lost in the state during the March 2008 - February 2010 employment downturn. Connecticut’s jobs recovery is now 50 months old and is averaging approximately 1,326 jobs per month overall since February 2010. The core private sector has recovered at a faster pace and has now gotten back 77,400 (69.1%, 1,548 per month) of the 112,000 private jobs that were lost during the same recessionary period. Now at 1,660,200 nonfarm jobs for April, the state needs to reach the 1,713,000 level to start a true nonfarm employment expansion. This will require an additional 52,800 jobs going forward. Labor Market Areas (LMAs): April 2014 preliminary nonfarm estimates reveal three of the six major Connecticut Labor Market Areas (Bureau of Labor Statistics-recognized LMAs) posted nonfarm job gains, while three showed declines. The employment growth last month was located along the shoreline. The Bridgeport-Stamford- Norwalk LMA (1,500, 0.4%) exhibited the best April job increase and also leads the state in regional employment growth over the year (7,200, 1.8%). The New Haven LMA (600, 0.2%) also had solid job gains in April, as did the Norwich-New London LMA (500, 0.4%). The Danbury LMA (-500, -0.7%), Hartford LMA (-400, -0.1%), and Waterbury LMA (-200, -0.3%) were all lower last month. The Danbury LMA (-100, -0.1%) joined the Norwich- New London LMA (-1,500, -1.2%) last month as the only two major LMA’s in the state to lose jobs over the year. Hours and Earnings: The private sector workweek, not seasonally adjusted, averaged 33.7 hours in April 2014, up one-tenth of an hour from the year ago April 2013 estimate of 33.6 hours. Average hourly earnings at $27.84, not seasonally adjusted, were down 24 cents, or -0.9% from the April 2013 hourly private sector pay figure of $28.08. The resulting average private sector weekly pay was calculated at $938.21, down $5.28, or -0.6% over the year. The year-to-year change in the Consumer Price Index for All Urban Consumers (CPI-U, U.S. City Average, not seasonally adjusted) in April 2014 was 2.0%. Labor Force Data (residential household survey) Connecticut’s unemployment rate was estimated at 6.9% for April 2014. This is down one-tenth of a percentage point from March 2013, and down nine-tenths of a percentage point from the April 2013 unemployment rate of 7.8%. April’s statewide civilian labor force (3,763, 0.2%) was higher again for the fourth month in a row, and is now slightly positive over the year (2,293, 0.1%). The unemployment rate in Connecticut has not been this low since it was 7.0% in January of 2009, in the midst of the financial crisis. Unemployment: Based on the household survey, the number of unemployed, seasonally adjusted, declined by 2,023 (-1.6%) over the month to 128,481 in April 2014. The state’s number of unemployed residents has declined by 17,302 (-11.9%) since April 2013. The United States unemployment rate was 6.3% in April, down four-tenths of a percentage point from the March 2014 rate (6.3%), and lower by one and two-tenths of a percentage point from the April 2013 rate, when it was calculated at 7.5%. The April 2014 average weekly initial unemployment claims for first-time Connecticut filers (seasonally adjusted) increased over the month by 323 claims (7.9%) to 4,412, but were lower by 411 claims (-8.5%) from last April (4,823). See the complete report at this link: CTDOL |
• U.S. Regional And State Employment And Unemployment - April 2014
| Regional and state unemployment rates were generally lower in April. Forty-three
states had unemployment rate decreases, two states had increases, and five states
and the District of Columbia had no change.
As compared to 2013, forty-seven states and the District of Columbia had unemployment rate decreases from a year earlier, one state had an increase, and two states had no change. In April 2014, 13 states had statistically significant over-the-month changes in employment, all of which were increases. The largest statistically significant job gains occurred in Texas (+64,100), California (+56,100), and Florida (+34,000). As compared to 2013, 29 states had statistically significant changes in employment, all of which were positive. The largest over-the-year job increase occurred in Texas (+348,000), followed by California (+340,200) and Florida (+246,800). See the complete report at this link: USDOL-BLS |
15 May 2014
• U.S. Consumer Price Index – April 2014
| The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.0 percent
over the last 12 months to an index level of 237.072 (1982-84=100). For the month,
the index rose 0.3 percent prior to seasonal adjustment.
The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.0 percent over the last 12 months to an index level of 233.443 (1982-84=100). For the month, the index rose 0.4 percent prior to seasonal adjustment. The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 1.8 percent over the last 12 months. For the month, the index rose 0.3 percent on a not seasonally adjusted basis. Please note that the indexes for the post-2012 period are subject to revision. The Consumer Price Index for May 2014 is scheduled to be released on Tuesday, June 17, 2014, at 8:30 a.m. (EDT). See the complete report at this link: SOURCEHERE |
• U.S. Real Earnings – April 2014
| Real average hourly earnings for all employees decreased 0.3 percent from March to April, seasonally
adjusted. This decrease stems from unchanged
average hourly earnings combined with a 0.3 percent increase in the Consumer Price Index for All Urban
Consumers (CPI-U).
Real average weekly earnings fell 0.3 percent over the month due to the 0.3 percent decrease in real average hourly earnings combined with an unchanged average workweek. Real average hourly earnings fell 0.1 percent, seasonally adjusted, from April 2013 to April 2014. The decrease in real average hourly earnings, combined with a 0.3 percent increase in the average workweek, resulted in a 0.2 percent increase in real average weekly earnings over this period. See the complete report at this link: USDOL-BLS *Note: Real earnings show the effect of inflation on your pay. If your salary went up by 2.1% over the year while the cost-of-living (CPI-U) rose 2.3%, then the “real” value of your salary fell by 0.2% [differences in some of the data are due to rounding and seasonal adjustment]. The figures reported here are earnings for all employees on private nonfarm payrolls, seasonally adjusted. |
• U.S. Initial Unemployment Claims – 10 May 2014
| In the week ending May 10, the advance figure for seasonally adjusted initial claims was 297,000, a decrease of 24,000
from the previous week's revised level. This is the lowest level for initial claims since May 12, 2007 when they were
297,000. The previous week's level was revised up by 2,000 from 319,000 to 321,000. The 4-week moving average was 323,250, a decrease of 2,000 from the previous week's revised average. The previous week's average was revised up by 500 from 324,750 to 325,250. The advance seasonally adjusted insured unemployment rate was 2.0 percent for the week ending May 3, unchanged from the previous week's unrevised rate. The highest insured unemployment rates in the week ending April 26 were in Alaska (4.6), New Jersey (3.3), Puerto Rico (3.2), California (3.1), Connecticut (3.0), Rhode Island (3.0), Pennsylvania (2.9), Nevada (2.8), Illinois (2.7), and Massachusetts (2.7). The largest increases in initial claims for the week ending May 3 were in Pennsylvania (+1,403), Texas (+1,147), Illinois (+646), Iowa (+540), and Maryland (+500), while the largest decreases were in New York (-20,637), California (-3,713), New Jersey (-2,565), Connecticut (-1,609), and Massachusetts (-1,277). Note: “Insured unemployment rate” refers to individuals who are unemployed and receiving UC benefits. See the complete report at this link: USDOL-BLS |
14 May 2014
• U.S. Producer Price Index – April 2014
| The Producer Price Index for final demand advanced 0.6 percent in April, seasonally adjusted. This increase followed a rise of 0.5 percent in
March and a decline of 0.1 percent in February. On an unadjusted basis, the index for final demand moved up 2.1 percent for the 12 months ended in April, the largest 12-month advance since a 2.4-percent increase in March 2012 See the complete report at this link: USDOL-BLS |
13 May 2014
• “New Model COBRA Notices Should be Used by U.S. Employers”
| ”The U.S. Department of Labor has published a new model general COBRA notice and a new model election COBRA notice. The new model notices reflect that coverage is available in the public health insurance exchanges, i.e., the 'Marketplace,' and include information on special enrollment rights in the Marketplace. "Use of these model notices, properly completed, will be considered good faith compliance with the notice content requirements of COBRA…. See the complete report at this link: JacksonLewis.com The Departments of Labor, Health and Human Services, and Treasury are also publishing frequently asked questions related to the proposed changes to model notices. The FAQs are posted on the Department of Labor website at http://www.dol.gov/ebsa/faqs/faq-aca19.html and the HHS website at http://www.cms.gov/CCIIO/Resources/Fact-Sheets-and-FAQs/aca_implementation_faqs19.html. In addition, HHS is publishing a clarifying bulletin regarding a special enrollment period in the Marketplace for individuals already enrolled in COBRA continuation coverage. The bulletin is posted on the HHS website at http://www.cms.gov/CCIIO/Resources/Regulations-and-Guidance/Downloads/SEP-and-hardship-FAQ-5-1-2014.pdf. The updated model notices are posted on the Department of Labor website at http://www.dol.gov/ebsa/modelgeneralnotice.doc and http://www.dol.gov/ebsa/modelelectionnotice.doc. A related notice of proposed rulemaking on the COBRA notice requirements will be published in the May 7 edition of the Federal Register. The notice of proposed rulemaking can also be viewed here. |
09 May 2014
• U.S. Job Openings & Labor Turnover – March 2014
|
Note: As compared to March 2013, March 2014 job openings were up 3.5%, hires were up 7.6%, total turnover was up 7.4%, quits up 18.8%, and layoffs & discharges down 10.3% (all the foregoing NSA). The USDOL's summary, which is less than illuminating, commences here:
Job Openings: There were 4.0 million job openings in March, little changed from 4.1 million in February. The number of job openings (not seasonally adjusted) was little changed over the year ending in March for total nonfarm, total private, and government. Over the year, the job openings level increased in three industries and decreased in three industries. Hires: There were 4.6 million hires in March, little changed from 4.7 million in February. Over the 12 months ending in March, the number of hires (not seasonally adjusted) increased for total nonfarm and total private and was little changed for government. The hires level increased over the year in four industries and decreased in construction. Separations: There were 4.4 million total separations in March, little changed from February. The number of total separations was essentially unchanged for total private and government. In March, the quits rate was unchanged at 1.8 percent for total nonfarm. The number of quits (not seasonally adjusted) increased over the 12 months ending in March for total nonfarm and total private. The quits level was little changed in government. The layoffs and discharges rate was little changed in March at 1.1 percent. The layoffs and discharges level (not seasonally adjusted) was little changed over the 12 months ending in March for total nonfarm, total private, and government. The number of layoffs and discharges increased in mining and logging and information but decreased in other services and federal government. See the complete report at this link: USDOL-BLS |
08 May 2014
• U.S. Productivity and Labor Costs – Q1 2014
| Nonfarm business sector labor productivity decreased at a 1.7 percent annual
rate during the first quarter of 2014. The decrease in productivity reflects increases of 0.3 percent in output and 2.0 percent in hours worked. (All quarterly percent changes in this release are seasonally adjusted annual rates.) From the first quarter of 2013 to the first quarter of 2014, productivity increased 1.4 percent as output and hours worked rose 3.2 percent and 1.7 percent, respectively. See the complete report at this link: USDOL-BLS |
• U.S. Initial Unemployment Claims – 03 May 2014
| In the week ending May 3, the advance figure for seasonally adjusted initial claims was 319,000, a decrease of 26,000
from the previous week's revised level. The previous week's level was revised up by 1,000 from 344,000 to 345,000. The 4-week moving average was 324,750, an increase of 4,500 from the previous week's revised average. The previous week's average was revised up by 250 from 320,000 to 320,250. The advance seasonally adjusted insured unemployment rate was 2.0 percent for the week ending April 26, a decrease of 0.1 percentage point from the previous week's unrevised rate of 2.1 percent. The highest insured unemployment rates in the week ending April 19 were in Alaska (4.9), New Jersey (3.5), Connecticut (3.4), Puerto Rico (3.3), California (3.2), Illinois (3.0), Pennsylvania (3.0), Nevada (2.9), Maine (2.6), and Michigan (2.6). The largest increases in initial claims for the week ending April 26 were in New York (+23,523), Massachusetts (+3,983), Rhode Island (+1,080), Oregon (+959), and Delaware (+956), while the largest decreases were in Michigan (- 6,642), New Jersey (-2,269), Pennsylvania (-1,704), Maryland (-1,670), and California (-1,237). Note: “Insured unemployment rate” refers to individuals who are unemployed and receiving UC benefits. See the complete report at this link: USDOL-BLS |
02 May 2014
• U.S. Employment Situation – April 2014
| In April, the unemployment rate fell from 6.7 percent to 6.3 percent, and the
number of unemployed persons, at 9.8 million, decreased by 733,000. Both
measures had shown little movement over the prior 4 months.
Over the year, the unemployment rate and the number of unemployed persons declined by 1.2 percentage points and 1.9 million, respectively. Among the major worker groups, unemployment rates declined in April for adult men (5.9 percent), adult women (5.7 percent), teenagers (19.1 percent), whites (5.3 percent), blacks (11.6 percent), and Hispanics (7.3 percent). The jobless rate for Asians was 5.7 percent (not seasonally adjusted), little changed over the year. The number of long-term unemployed (those jobless for 27 weeks or more) declined by 287,000 in April to 3.5 million; these individuals accounted for 35.3 percent of the unemployed. Over the past 12 months, the number of long-term unemployed has decreased by 908,000. The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed at 7.5 million in April. These individuals were working part time because their hours had been cut back or because they were unable to find full-time work. In April, 2.2 million persons were marginally attached to the labor force, down slightly from a year earlier. (Not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. See the complete report at this link: USDOL-BLS |
01 May 2014
• U.S. Payrolls – March 2014
| Private wages and salaries increased $42.3 billion in March, compared with an increase of $17.4 billion in February.
Goods producing industries' payrolls increased $10.4 billion, compared with an increase of $7.6 billion; manufacturing payrolls increased $7.0 billion, compared with an increase of $1.6 billion. Services-producing industries' payrolls increased $31.8 billion, compared with an increase of $9.9 billion. Government wages and salaries increased $0.9 billion, compared with an increase of $1.9 billion. See the complete report at this link: USDOC-BEA |
• U.S. Personal Income and Outlays – March 2014
| Personal income increased $78.4 billion, or 0.5 percent, and disposable personal income (DPI) increased $68.0 billion,
or 0.5 percent, in March. Personal consumption expenditures (PCE)
increased $107.2 billion, or 0.9 percent. In February, personal income increased $54.3 billion, or 0.4 percent,
DPI increased $47.6 billion, or 0.4 percent, and PCE increased $54.7 billion, or 0.5 percent, based on revised estimates.
Real DPI increased 0.3 percent in March, the same increase as in February. Real PCE increased 0.7 percent in March, compared with an increase of 0.4 percent in February. See the complete report at this link: USDOC-BEA |
• U.S. Initial Unemployment Claims – 26 April 2014
| In the week ending April 26, the advance figure for seasonally adjusted initial claims was 344,000, an increase of 14,000
from the previous week's revised level. The previous week's level was revised up by 1,000 from 329,000 to 330,000. The 4-week moving average was 320,000, an increase of 3,000 from the previous week's revised average. The previous week's average was revised up by 250 from 316,750 to 317,000. The advance seasonally adjusted insured unemployment rate was 2.1 percent for the week ending April 19, an increase of 0.1 percentage point from the previous week's unrevised rate of 2.0 percent. The highest insured unemployment rates in the week ending April 12 were in Alaska (4.6), New Jersey (3.3), California (3.2), Puerto Rico (3.2), Pennsylvania (3.1), Connecticut (3.0), Illinois (2.9), Michigan (2.8), Nevada (2.8), and Rhode Island (2.8). The largest increases in initial claims for the week ending April 19 were in New Jersey (+4,652), Connecticut (+2,073), Maryland (+998), Nevada (+402), and Vermont (+202), while the largest decreases were in Texas (-3,118), California (- 2,887), Pennsylvania (-2,738), New York (-1,740), and Indiana (-1,577). Note: “Insured unemployment rate” refers to individuals who are unemployed and receiving UC benefits. See the complete report at this link: USDOL-BLS |
• U.S. Extended Joblessness Dangerously High
| "The stubborn persistence of long-term joblessness – more than six months without a job – has emerged as one of the defining features of the US economy in the aftermath of the financial crisis and recession.
”While short-term unemployment has essentially returned to its pre-recession levels of about 4 per cent, it is elevated long-term unemployment that has kept the overall US jobless rate well above the 5.5 to 6 per cent level that many economists believe to be consistent with America’s traditional economic potential.” See the complete report at this link: Financial Times |
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