–Unadjusted Claims Down In Holiday Week, NSA Rebound Expected Next Week
–Initial Claims Level Down 16,000 From 455,000 Level In Oct. 16 Week

By Kevin Kastner and Ian McKendry

WASHINGTON (MNI) – Initial claims for U.S. state unemployment
benefits rose by only 2,000 to 439,000 in the November 13 employment
survey and holiday week, below the 445,000 level expected, the U.S.
Labor Department reported Thursday.

A Labor Department analyst said that for the holiday-shortened
week, seasonal factors expected unadjusted claims to fall by 10.2%, or
about 46,000 claims. Instead, they down about 10.0%, or 45,189 claims,
to 407,468. Unadjusted claims were at a level of 475,701 in the
comparable week a year ago.

The analyst noted that unadjusted claims typically rise in the week
following the drop in a holiday week, so a rebound is unadjusted claims
is anticipated by seasonal factors for the November 20 week data.

The analyst said that claims from Alaska were estimated, but
otherwise there was nothing unusual in the state-level data.

Economists surveyed by Market News International had expected
initial claims to rise to 445,000 in the current week, from the 435,000
level originally reported in the previous week. The November 6 week’s
level was revised up slightly to 437,000.

Initial claims in the November 13 survey week were down 16,000 from
the 455,000 level in the October 16 employment survey week.

The initial claims seasonally adjusted 4-week moving average fell
by 4,000 to 443,000 in the November 13 week, the lowest level since the
September 6, 2008 week, when it stood at 438,500.

In the November 6 week, continuing claims fell by 48,000 to
4,295,000.

Unadjusted continuing claims fell 72,487 to 3,710,605 in the
November 6 week, still well below the 4,883,657 level a year earlier.

The seasonally adjusted insured unemployment rate fell to 3.4% in
the November 6 week from 3.5% in the previous week. The rate was down
sharply from the 4.3% rate reported 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 the level of unadjusted Emergency
Unemployment Compensation benefits claims rose by 66,767 in the October
30 week, bringing that category to 3,966,805. Extended benefits claims
rose 54,471 to 965,710 not seasonally adjusted.

The Labor Department reported that a total of 8,854,206 persons
claimed unemployment benefits in the October 30 week, up 145,405 from
the 8,708,801 claims in the previous week. These data are not seasonally
adjusted, and include regular state claims, federal employee claims, new
veterans claims, the EUC and extended benefits programs, state
additional benefits, and STC/Workshare claims.

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

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