–Continuing Claims Down 46,000 From The April 17 Employment Survey Week
–Labor Analyst: No Special Factors, No States Estimated

By Brai Odion-Esene and Ian McKendry

WASHINGTON (MNI) – Initial claims for U.S. state unemployment
benefits fell 14,000 to 460,000 in the May 22 week after seasonal
adjustment, according to data released by the U.S. Labor Department
Thursday morning.

A Labor analyst said that there were no special factors and no
states estimated in the current week’s claims data, which was above the
450,000 level expected in a Market News International survey of
economists.

Initial claims were revised up slightly to a 474,000 level in the
May 15 week from the originally reported 471,000 level and are now
unchanged from the May 8 week.

Seasonal adjustment factors expected an increase in unadjusted
claims of about 1.5%, which would have been a rise in claims by about
6,000. Unadjusted initial claims actually fell only 1.5%, or 5,765, to a
level of 404,325. This is still well below the 538,311 level in the
comparable week a year earlier.

The initial claims seasonally adjusted 4-week average rose 2,250 to
456,500 in the May 22 week, considerably less than the 616,250 level
seen in the comparable week the prior year.

In the May 15 survey week, continuing claims fell by 49,000 to
4.607 million and were down 88,300 unadjusted. Continuing claims were
again at their lowest levels since the March 27 week, when they stood at
4.562 million.

Continuing claims in the current week were 46,000 below the 4.653
million level reported in the April 17 employment survey week.

The seasonally adjusted insured unemployment rate remained at 3.6%
in the May 15 week, which is well below the 4.9% rate in the comparable
week a year earlier.

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 41,403 less unadjusted
Emergency Unemployment Compensation benefits claims in the May 8 week,
bringing that category to 5,059,843. Extended benefits claims rose by
38,693 to 278,953 not seasonally adjusted.

** Market News International Washington Bureau: 202-371-2121 **

[TOPICS: MAUDS$,MT$$$$,M$U$$$,MAUDR$]