Those “Bad Old” Bush Days – Unemployment Rate 2% – April 10, 2005

EMPLOYMENT AND TRAINING ADMINISTRATION
USDL 05-796-NAT

Program Contact:
TRANSMISSION OF MATERIAL IN THIS

Subri Raman (202) 693-3058
RELEASE IS EMBARGOED UNTIL

Tony Sznoluch (202) 693-3176
8:30 A.M. (EDT), THURSDAY

Media Contact :
May 5, 2005
(202) 693-4676

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA

In the week ending April 30, the advance figure for seasonally adjusted initial claims was 333,000, an increase of 11,000 from the previous week’s revised figure of 322,000. The 4-week moving average was 321,500, a decrease of 2,000 from the previous week’s revised average of 323,500.

The advance seasonally adjusted insured unemployment rate was 2.0 percent for the week ending April 23, unchanged from the prior week’s unrevised rate of 2.0 percent.

The advance number for seasonally adjusted insured unemployment during the week ending April 23 was 2,589,000, an increase of 38,000 from the preceding week’s revised level of 2,551,000. The 4-week moving average was 2,606,500, a decrease of 24,250 from the preceding week’s revised average of 2,630,750.

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 288,626 in the week ending April 30, a decrease of 12,249 from the previous week. There were 283,236 initial claims in the comparable week in 2004.

The advance unadjusted insured unemployment rate was 2.0 percent during the week ending April 23, a decrease of 0.1 percentage point from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 2,570,929, a decrease of 41,651 from the preceding week. A year earlier, the rate was 2.3 percent and the volume was 2,915,357.

Extended benefits were available in Alaska during the week ending April 16.

Initial claims for UI benefits by former Federal civilian employees totaled 974 in the week ending April 23, a decrease of 132 from the prior week. There were 1,974 initial claims by newly discharged veterans, a decrease of 242 from the preceding week.

There were 14,361 former Federal civilian employees claiming UI benefits for the week ending April 16, a decrease of 17 from the previous week. Newly discharged veterans claiming benefits totaled 26,320, an increase of 661 from the prior week.

The highest insured unemployment rates in the week ending April 16 were in Alaska (5.1 percent), Puerto Rico (4.1), Michigan (3.5), Oregon (3.1), New Jersey (3.0), Pennsylvania (3.0), Wisconsin (2.8), Massachusetts (2.7), Vermont (2.7), and California (2.6).

The largest increases in initial claims for the week ending April 23 were in Massachusetts (+5,534), Kentucky (+4,080), California (+3,257), Texas (+2,974), and Connecticut (+2,396), while the largest decreases were in Minnesota (-2,801), Tennessee (-2,201), Wisconsin (-880), Pennsylvania (-865), and South Carolina (-707).

http://www.dol.gov/opa/media/press/eta/ui/eta20050796.htm

UPDATE: June 10, 2009 – The uneployment rate now stands at 9.4%. Pending the 12 weekly upward revision of unemployment data the percentage of unemployed may surpass 10%. At the time of Obama’s election in November 2008 the unemployment rate was 6.5%. For every 2 people out of work when Obama was elected we know have 3 people out of work.