HI-TRANSFER

Today’s jobless claims report showed declines to initial unemployment claims and continued unemployment claims as initial claims fell to the lowest level seen since mid-2008.

Seasonally adjusted “initial” unemployment declined 4,000 to 364,000 claims from last week’s revised 368,000 claims while seasonally adjusted “continued” claims declined by 79,000 resulting in an “insured” unemployment rate of 2.8%.

Since the middle of 2008 though, two federal government sponsored “extended” unemployment benefit programs (the “extended benefits” and “EUC 2008” from recent legislation) have been picking up claimants that have fallen off of the traditional unemployment benefits rolls.

Currently there are some 3.50 million people receiving federal “extended” unemployment benefits.

Taken together with the latest 3.53 million people that are currently counted as receiving traditional continued unemployment benefits, there are 7.04 million people on state and federal unemployment rolls.

Today’s jobless claims report showed a notable decline to initial unemployment claims and a slight increase to continued unemployment claims as a slight rising trend was firmly called into question for initial claims.

Seasonally adjusted “initial” unemployment declined 19,000 to 366,000 claims from last week’s revised 385,000 claims while seasonally adjusted “continued” claims increased by 4,000 resulting in an “insured” unemployment rate of 2.9%.

Since the middle of 2008 though, two federal government sponsored “extended” unemployment benefit programs (the “extended benefits” and “EUC 2008” from recent legislation) have been picking up claimants that have fallen off of the traditional unemployment benefits rolls.

Currently there are some 3.64 million people receiving federal “extended” unemployment benefits.

Taken together with the latest 3.69 million people that are currently counted as receiving traditional continued unemployment benefits, there are 7.33 million people on state and federal unemployment rolls.

Today’s jobless claims report showed a decline to both initial and continued unemployment claims as a slight rising trend was firmly called into question for initial claims.

Seasonally adjusted “initial” unemployment declined 5,000 to 388,000 claims from last week’s revised 393,000 claims while seasonally adjusted “continued” claims declined by 57,000 resulting in an “insured” unemployment rate of 2.9%.

Since the middle of 2008 though, two federal government sponsored “extended” unemployment benefit programs (the “extended benefits” and “EUC 2008” from recent legislation) have been picking up claimants that have fallen off of the traditional unemployment benefits rolls.

Currently there are some 3.45 million people receiving federal “extended” unemployment benefits.

Taken together with the latest 3.21 million people that are currently counted as receiving traditional continued unemployment benefits, there are 6.67 million people on state and federal unemployment rolls.

Today’s jobless claims report showed a decline to both initial and continued unemployment claims as a slight rising trend was called into question for initial claims.

Seasonally adjusted “initial” unemployment declined 10,000 to 390,000 claims from last week’s revised 400,000 claims while seasonally adjusted “continued” claims declined by 92,000 resulting in an “insured” unemployment rate of 2.9%.

Since the middle of 2008 though, two federal government sponsored “extended” unemployment benefit programs (the “extended benefits” and “EUC 2008” from recent legislation) have been picking up claimants that have fallen off of the traditional unemployment benefits rolls.

Currently there are some 3.52 million people receiving federal “extended” unemployment benefits.

Taken together with the latest 3.19 million people that are currently counted as receiving traditional continued unemployment benefits, there are 6.72 million people on state and federal unemployment rolls.

Today’s jobless claims report showed an decline to both initial and continued unemployment claims as a slight rising trend was called into question for initial claims.

Seasonally adjusted “initial” unemployment declined 6,000 to 403,000 claims from last week’s revised 409,000 claims while seasonally adjusted “continued” claims increased by 25,000 resulting in an “insured” unemployment rate of 2.9%.

Since the middle of 2008 though, two federal government sponsored “extended” unemployment benefit programs (the “extended benefits” and “EUC 2008” from recent legislation) have been picking up claimants that have fallen off of the traditional unemployment benefits rolls.

Currently there are some 3.48 million people receiving federal “extended” unemployment benefits.

Taken together with the latest 3.11 million people that are currently counted as receiving traditional continued unemployment benefits, there are 6.59 million people on state and federal unemployment rolls.

The latest Regional and State Employment and Unemployment report showed that in August 10 states were experiencing double digit unemployment with a median unemployment rate of 10.9% while the median unemployment rate for all 50 states and the District of Columbia stood at 8.3%.

Nevada showed the highest unemployment rate at 13.4% followed by California at 12.1 and Michgaan at 11.2%.

Today’s jobless claims report showed an incline to initial unemployment claims and a decline to continued unemployment claims as a recent rising trend was called firmly into question for initial claims.

Seasonally adjusted “initial” unemployment increased 2,000 to 414,000 claims from last week’s revised 412,000 claims while seasonally adjusted “continued” claims declined by 30,000 resulting in an “insured” unemployment rate of 3.0%.

Since the middle of 2008 though, two federal government sponsored “extended” unemployment benefit programs (the “extended benefits” and “EUC 2008” from recent legislation) have been picking up claimants that have fallen off of the traditional unemployment benefits rolls.

Currently there are some 3.59 million people receiving federal “extended” unemployment benefits.

Taken together with the latest 3.47 million people that are currently counted as receiving traditional continued unemployment benefits, there are 7.07 million people on state and federal unemployment rolls.

Yesterday, the Bureau of Labor Statistics released their latest monthly read of job availability and labor turnover (JOLT) showing that private non-farm job “openings” increased 2.29% since June climbing 15.26% above the level seen in July 2010 while private non-farm job “hires” declined 2.03% from June remaining 1.92% above the level seen in July 2010

Job “layoffs and discharges” declined 3.65% from June falling 6.82% below the level seen last year while quitting activity increased 2.02% from June and 8.91% above the level seen in July 2010.

It’s important to understand that job “quits” are included as a component of the “separations” data series as “quitting” is a valid means of workers “separating” from employers but their inclusion tends to create an overall procyclical trend in what would otherwise be logically thought of as a countercyclical process (i.e. downturn leads to increase in separations not decrease).

Today’s jobless claims report showed an increase to initial unemployment claims and a decline to continued unemployment claims as a recent rising trend was called firmly into question for initial claims.



Seasonally adjusted “initial” unemployment increased 5,000 to 417,000 claims from last week’s revised 412,000 claims while seasonally adjusted “continued” claims declined by 80,000 resulting in an “insured” unemployment rate of 2.9%.



Since the middle of 2008 though, two federal government sponsored “extended” unemployment benefit programs (the “extended benefits” and “EUC 2008” from recent legislation) have been picking up claimants that have fallen off of the traditional unemployment benefits rolls.



Currently there are some 3.63 million people receiving federal “extended” unemployment benefits.



Taken together with the latest 3.55 million people that are currently counted as receiving traditional continued unemployment benefits, there are 7.19 million people on state and federal unemployment rolls.

Today’s jobless claims report showed a decline to both initial and continued unemployment claims as a recent rising trend was called firmly into question for initial claims.



Seasonally adjusted “initial” unemployment declined 7,000 to 395,000 claims from last week’s revised 402,000 claims while seasonally adjusted “continued” claims declined by 60,000 resulting in an “insured” unemployment rate of 2.9%.



Since the middle of 2008 though, two federal government sponsored “extended” unemployment benefit programs (the “extended benefits” and “EUC 2008” from recent legislation) have been picking up claimants that have fallen off of the traditional unemployment benefits rolls.



Currently there are some 3.70 million people receiving federal “extended” unemployment benefits.



Taken together with the latest 3.68 million people that are currently counted as receiving traditional continued unemployment benefits, there are 7.38 million people on state and federal unemployment rolls.

Today’s Employment Situation Report showed that in July, net nonfarm payrolls increased rising 117,000 from June while private nonfarm payrolls added 154,000 and the unemployment rate declined slightly to 9.1% over the same period.

Net private sector jobs increased 0.14% since last month climbing 1.68% above the level seen a year ago but but remained a whopping 5.58% below the peak level of employment seen in December 2007.

Today’s Employment Situation report showed that in July “total unemployment” including all marginally attached workers declined slightly slipping to 16.1% from the prior month's level of 16.2% while the traditionally reported unemployment rate declined to 9.1%.

The traditional unemployment rate is calculated from the monthly household survey results using a fairly explicit definition of “unemployed” (essentially unemployed and currently looking for full time employment) leaving many workers to be considered effectively “on the margin” either employed in part time work when full time is preferred or simply unemployed and no longer looking for work.

The Bureau of Labor Statistics considers “marginally attached” workers (including discouraged workers) and persons who have settled for part time employment to be “underutilized” labor.

The broadest view of unemployment would include both traditionally unemployed workers and all other underutilized workers.

To calculate the “total” rate of unemployment we would simply use this larger group rather than the smaller and more restrictive “unemployed” group used in the traditional unemployment rate calculation.

The latest Regional and State Employment and Unemployment report showed that in June, 8 states were experiencing double digit unemployment with a median unemployment rate of 10.55% while the median unemployment rate for all 50 states and the District of Columbia stood at 8.2%.

Nevada showed the highest unemployment rate at 12.4% followed by California at 11.8 and Rhode Island at 10.8%.

Today’s jobless claims report showed a slight decline to both initial and continued unemployment claims as a rising trend continued to materialize for initial claims.

Seasonally adjusted “initial” unemployment declined by 1,000 to 428,000 claims from last week’s revised 429,000 claims while seasonally adjusted “continued” claims declined by 12,000 resulting in an “insured” unemployment rate of 2.9%.

Since the middle of 2008 though, two federal government sponsored “extended” unemployment benefit programs (the “extended benefits” and “EUC 2008” from recent legislation) have been picking up claimants that have fallen off of the traditional unemployment benefits rolls.

Currently there are some 3.92 million people receiving federal “extended” unemployment benefits.

Taken together with the latest 3.30 million people that are currently counted as receiving traditional continued unemployment benefits, there are 7.41 million people on state and federal unemployment rolls.

Today’s employment situation report showed that the full time unemployment rate increased to 9.7% of the civilian workforce remaining near the highest rate seen in 41 years.

The Bureau of Labor Statistics considers full time workers to be those “who have expressed a desire to work full time (35 hours or more per week) or are on layoff from full-time jobs”.

Full time jobless workers currently account for roughly 88.5% of all unemployed workers.

Today’s jobless claims report showed an slight decline to both initial and continued unemployment claims as a rising trend continued to materialize for initial claims.

Seasonally adjusted “initial” unemployment declined by 6,000 to 422,000 claims from last week’s revised 428,000 claims while seasonally adjusted “continued” claims declined by 1,000 resulting in an “insured” unemployment rate of 3.0%.

Since the middle of 2008 though, two federal government sponsored “extended” unemployment benefit programs (the “extended benefits” and “EUC 2008” from recent legislation) have been picking up claimants that have fallen off of the traditional unemployment benefits rolls.

Currently there are some 4.04 million people receiving federal “extended” unemployment benefits.

Taken together with the latest 3.54 million people that are currently counted as receiving traditional continued unemployment benefits, there are 7.58 million people on state and federal unemployment rolls.

Today, the Bureau of Labor Statistics released their latest monthly read of job availability and labor turnover (JOLT) showing that private non-farm job “openings” increased 2.78% since February climbing 23.22% above the level seen in March 2010 while private non-farm job “hires” increased 1.39% from February and 0.48% above the level seen in March 2010

Job “layoffs and discharges” declined 0.13% from February while dropping 9.46% below the level seen last year while quitting activity continues to climb increasing 2.01% from February and 8.67% above the level seen in March 2010.

It’s important to understand that job “quits” are included as a component of the “separations” data series as “quitting” is a valid means of workers “separating” from employers but their inclusion tends to create an overall procyclical trend in what would otherwise be logically thought of as a countercyclical process (i.e. downturn leads to increase in separations not decrease).