–Annual Revisions Issued In March 20 Report
By Ian Mckendry and Kevin Kastner
WASHINGTON (MNI) – Initial claims for U.S. state unemployment
benefits decreased 14,000 to 442,000 in March 20 week after seasonal
adjustment, according to data released by the U.S. Labor Department
Thursday morning.
The level was just below the 450,000 level expected in a Market
News International survey of economists.
Thursday’s report also included the U.S Labors annual revisions.
A Labor analyst said as a level the seasonal adjustment factors
expected a decrease of 4.0% which would have been a decrease of about
17,000 claims in the March 20 week, compared with the actual outcome of
a 7.0% decrease in unadjusted claims. As a level, unadjusted claims fell
30,447 to 405,557.
The initial claims seasonally adjusted 4-week average
decreased 11,000 to 453,750.
In the March 13 employment week, continuing claims fell by 54,000
to 4.648 million, and a decrease of 146,000 from the 4.794 million level
in the February 13 employment survey week. Unadjusted continuing claims
fell 81,308 to 5.322 million.
The seasonally adjusted insured unemployment rate remained at 3.6%
in the March 13 week.
The unemployment rate among the insured labor force is well below
that reported monthly by the Labor Department because claims are
approved for the most part only for job losers, not the job leavers and
labor force reentrants included in the monthly report.
The Labor Department said that there were was a 329,618 drop in
unadjusted Emergency Unemployment Compensation benefits claims in the
March 6 week, bringing that category to 5,558,430. Extended benefits
claims decreased by 16,224 to 139,931 not seasonally adjusted.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDS$,MT$$$$,M$U$$$,MAUDR$]
