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Thursday, June 12, 2014

Weekly Initial Unemployment Claims Increase Slightly

Initial unemployment (jobless) claims increased slightly for the week ending June 7, marking the second week in a row of increases in the number of unemployment claims.  However, the overall number of UI claims continues to remain well under the number of claims of the past three years, as shown by the graph.

The Department of Labor announced Thursday morning that 317,000 first time claims were filed, an increase of 4,000 claims over the number filed the week before.  The 4 week moving average, which smooths out some of the normal weekly fluctuations, increased by 4,750 claims to 

We continue to experience the lowest numbers of weekly initial claims since Spring/Summer of 2007, before the recession.

As usual it should be noted that weekly unemployment claims are volatile and trends should only be considered over a period of weeks.  Also, the initial unemployment claims reported on this graph have NOTHING TO DO with the expiration of extended unemployment benefits at the end of 2013.  These are INITIAL claims. 

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