They’ve got at least two alleged conservatives here pimping for them.
Initial unemployment insurance claims fell by 5,000, to 366,000, in the week ended 2 February. The four-week moving average decreased 2,250, to 352,750the lowest since March 2008.
- Initial unemployment insurance claims fell by 5,000, to 366,000, in the week ended 2 February.
- The four-week moving average decreased 2,250, to 352,750the lowest since March 2008.
- Continuing benefits programs reported 8,000 more claimants in the week ended 26 January, bringing the total up to 3.2 million. Regular benefits typically last for a period of 26 weeks; claimants are required to check in weekly to provide updates on their job search to receive compensation.
- Emergency unemployment compensation (EUC), which immediately follows the exhaustion of regular benefits, was provided to 1.83 million people in the week ended 19 Januarya drop of 288,471.
The four-week moving average fell to its lowest level since March 2008. Thats the good news. The not-so-good news is how slow the recovery is proceeding. The four-week moving average is down only 25,000 from a year ago. Meanwhile, the January unemployment rate edged up a 10th of a percentage point, to 7.9%, down from 8.3% a year earlier.
The recent changes seen in emergency unemployment compensation and extended benefits data may reflect the effects of the American Taxpayer Relief Act of 2012. These programs had been slated to expire at the end of December; however, they were extended until the end of 2013, as part of the fiscal cliff agreement. Continuing claims and initial claims were not affected by the fiscal cliff deal. The only programs threatened by the cliff were those serving people who had been receiving unemployment benefits for upwards of 26 weeks.
January payroll employment was nothing special, at 157,000. We are expecting about the same (150,000, to be exact) for February.