UNEMPLOYMENT INSURANCE WEEKLY CLAIMS FALL BY 5,000

November 17, 2011

Economic reports published Thursday show the U.S. housing and job markets getting a little better.

The Labor Department says 5,000 fewer Americans signed up for unemployment compensation last week, putting the nationwide total at 388,000.

While that is the lowest level since last April, it is still above the level seen in a healthy economy.

The U.S. unemployment rate has fallen to 9 percent and some economists say it is likely to decline slowly.

The 4-week moving average was 396,750, a decrease of 4,000 from the previous week's revised average of 400,750.

The advance seasonally adjusted insured unemployment rate was 2.9 percent for the week ending November 5, unchanged from the prior week's unrevised rate.

The advance number for seasonally adjusted insured unemployment during the week ending November 5 was 3,608,000, a decrease of 57,000 from the preceding week's revised level of 3,665,000. The 4-week moving average was 3,670,000, a decrease of 32,750 from the preceding week's revised average of 3,702,750.

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 360,139 in the week ending November 12, a decrease of 42,355 from the previous week. There were 409,548 initial claims in the comparable week in 2010.

The advance unadjusted insured unemployment rate was 2.5 percent during the week ending November 5, unchanged from the prior week's unrevised rate. The advance unadjusted number for persons claiming UI benefits in state programs totaled 3,164,504, a decrease of 46,356 from the preceding week. A year earlier, the rate was 3.0 percent and the volume was 3,735,938.

The total number of people claiming benefits in all programs for the week ending October 29 was 6,773,326, a decrease of 62,278 from the previous week.

Extended benefits were available in Alabama, California, Colorado, Connecticut, Delaware, the District of Columbia, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Washington, West Virginia, and Wisconsin during the week ending October 29.

Initial claims for UI benefits by former Federal civilian employees totaled 2,130 in the week ending November 5, a decrease of 476 from the prior week. There were 2,756 initial claims by newly discharged veterans, an increase of 44 from the preceding week.

There were 28,719 former Federal civilian employees claiming UI benefits for the week ending October 29, an increase of 62 from the previous week. Newly discharged veterans claiming benefits totaled 40,858, a decrease of 208 from the prior week.

States reported 2,935,466 persons claiming EUC (Emergency Unemployment Compensation) benefits for the week ending October 29, a decrease of 18,358 from the prior week. There were 3,961,485 claimants in the comparable week in 2010. EUC weekly claims include first, second, third, and fourth tier activity.

The highest insured unemployment rates in the week ending October 29 were in Alaska (4.9), Puerto Rico (4.8), Oregon (3.6), California (3.5), Pennsylvania (3.5), New Jersey (3.4), Nevada (3.2), Arkansas (3.1), Connecticut (3.1), and South Carolina (3.1).

The largest increases in initial claims for the week ending November 5 were in Michigan (+3,106), Illinois (+2,516), Texas (+2,335), Washington (+2,278), and Pennsylvania (+2,261) while the largest decreases were in Florida (-1,896), Oregon (-804), Puerto Rico (-487), District of Columbia (-40), and Arizona (-36).

A separate report from the Commerce Department shows builders started construction on slightly fewer homes in October, but the number of building permits issued for future construction surged, particularly for apartments.