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U.S. Jobless Claims Analysis

Economics / US Housing Aug 17, 2012 - 05:42 AM GMT

By: Asha_Bangalore

Economics

Initial jobless claims rose slightly (+2,000) to 366,000 during the week ended August 11. Distortions from summer auto plant shutdowns are in the past now, with the level of initial jobless claims now standing close to the levels posted in the early part of the year.


Continuing claims, which lag initial jobless claims by one week, fell 31,000 to 3.305 million; they have remained nearly flat since March 2012. While the level of initial and continuing claims for unemployment insurance has declined to levels last seen in the early phase of the recession, this trend seems somewhat at odds with the lingering high rate of unemployment. One element which might reconcile these two trends is the end of benefit eligibility for the long-term unemployed; we're looking into the influence that this phenomenon has had on recent claims data

Asha Bangalore — Senior Vice President and Economist

http://www.northerntrust.com

Asha Bangalore is Vice President and Economist at The Northern Trust Company, Chicago. Prior to joining the bank in 1994, she was Consultant to savings and loan institutions and commercial banks at Financial & Economic Strategies Corporation, Chicago.

Copyright © 2012 Asha Bangalore

The opinions expressed herein are those of the author and do not necessarily represent the views of The Northern Trust Company. The Northern Trust Company does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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