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Tag Archives: Bureau of Labor Statistics

First-Time Jobless Claims Edge Up; Trend Stays Positive

First-time claims for unemployment insurance increased 2,000 to 336,000 for the week ending March 16--the first increase in a month--the Labor Department reported Thursday. Economists expected claims to rise to 340,000. Initial jobless claims for the week ending March 9 were revised up to 334,000 from the initially reported 332,000. The slight increase in first-time claims was driven largely by seasonal adjustment factors and as such masks the sharp improvement in the jobs market.

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First-Time and Continuing Jobless Claims Fall Again

First-time claims for unemployment insurance fell 10,000 to 332,000 for the week ending March 9, the Labor Department reported Thursday. Economists expected 350,000 initial unemployment claims. The drop in filings--the third in the last four weeks--resumed a downward trend in layoffs.

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January Layoffs Drop to Record Low

The number of layoffs fell 4.0 percent to 1,507,000 in January, the Bureau of Labor Statistics (BLS) reported Tuesday in its monthly Job Openings and Labor Turnover Survey (JOLTS) release, which details the ins and out of the labor market. The layoff total was the smallest since the JOLTS reports began in December 2000. At the same time, BLS said, the number of job openings rose 2.2 percent in January to 3,693,000, which meant there were 3.34 unemployed people for every job opening--a slight improvement from 3.38 in December.

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Commentary: Go With The Flow

Perhaps the most important piece of economic news in the last few days was not the continued drop in the unemployment rate or the positive blurbs in the Beige Book or even the Dow reaching a new record high, but Thursday's quarterly Flow of Funds report. According to the report for Q4 2012, household assets grew to $79.5 trillion in the fourth quarter, an increase of $1.3 trillion--not too shabby. Household financial assets were up $784 billion to $54.4 billion but home equity (the value of household real estate less loans against that real estate) grew $452.8 billion, the result of two moving parts: real estate values (which increased) and household mortgage liabilities, which dropped.

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Economy Adds 236K Jobs in February; Unemployment Rate Slips

The economy added 236,000 jobs in March and the unemployment rate to 7.7 percent, its lowest level since December 2008, the Bureau of Labor Statistics reported Friday. Economists had forecast payrolls would grow by 160,000, and that the unemployment rate would drop to 7.8 percent. Job growth for December, originally reported at 196,000, was revised upward to 219,000, while January was revised down to 119,000 from the originally reported 157,000. One concern from the report was the number of multiple jobholders, which increased 340,000. This means new jobs went to an individual already employed, making the decline in the unemployment rate even more significant.

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First-Time, Continuing Jobless Claims Drop Sharply

First-time claims for unemployment insurance fell 22,000 to 344,000 for the week ended February 23, the Labor Department reported Thursday. Economists expected 360,000 initial unemployment claims. The drop in filings--the third in the last four weeks--resumed a downward trend in layoffs.

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Firm Predicts Job Relocation Surge from Former Underwater Borrowers

Challenger, Gray & Christmas, a nationwide outplacement firm, is predicting a relocation surge in 2013 from job-seeking homeowners who are finally able to list their properties. As home prices improve, more homeowners have been lifted out of negative equity, and thus more free to sell their properties and relocate. ""One factor that has kept unemployment rates high has been the inability of underwater homeowners to relocate for employment opportunities. With home prices bouncing back, even those who may now simply break even on a home sale might consider moving to a region where jobs are more plentiful,"" said John A. Challenger, the firm's CEO.

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First-Time Jobless Claims Drop; Continuing Claims at 43-Month Low

Bolstered by favorable seasonal adjustment factors, first-time claims for unemployment insurance dropped 27,000 to 341,000 for the week ending February 9, the Labor Department reported Thursday. Economists expected a much smaller decline to 360,000. Initial claims were under 350,000--a dividing line between a strong and weak labor market--for the third time in the last five weeks, hinting layoff activity has returned to normal.

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First-Time Jobless Claims Average at 5-Year Low

First time claims for unemployment insurance continued to move sideways, dropping 5,000 to 366,000 for the week ended February 2, the Labor Department reported Thursday. Economists expected a larger decline to 360,000 from the prior week’s 330,000 initial claims.

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