–No Special Factors, No Hurricane Impact, 4 States Estimated This Week
–Labor Analyst: Expect Revision of +2k To +5k In Sept. 3 Claims Next Wk

By Brai Odion-Esene and Ian McKendry

WASHINGTON (MNI) – Initial claims for U.S. state unemployment
benefits rose 2,000 to a level of 414,000 after seasonal adjustment in
the September 3 week, the Labor Department reported Thursday.

A Labor Department analyst said there were no special factors this
week, with no indication that Hurricane Irene had any impact on the
national claims number. However, Monday’s federal holiday meant four
states; California, Hawaii, Virginia and Washington D.C. were estimated
in the current week’s data.

A Labor Department analyst said it is not uncommon for states to be
estimated, or to provide estimates, due to a federal holiday. He told
Market News International he expects “a typical revision” in the current
week’s claims when states submit the actual numbers, predicting a 2,000
to 5,000 addition to the Sept. 3 claims number next week.

Economists surveyed by Market News International had expected
initial claims to come in at 409,000, the same level initially reported
level of in the August 27 week. The previous week’s claims were revised
up to a level of 421,000.

The initial claims seasonally adjusted 4-week moving average was
414,750 in the September 3 week, up 3,750 from the previous week.

The Labor Department analyst said seasonal factors had expected an
increase of 2.2%, or about 7,500 unadjusted claims in the current week.
Claims actually rose 2.8%, or 9,355 to 346,065 in the current week.
Unadjusted claims were at a level of 381,863 in the comparable week a
year earlier.

The state data released for the August 27 week indicated unadjusted
initial claims increased in 21 states and declined in 32 states. The
District of Columbia, Puerto Rico, and Virgin Islands are included in
this data.

In the August 27 week, continuing claims fell 30,000 to 3,717,000
after adjustment, the lowest level since the July 30 week when they were
3.695 million. Unadjusted continuing claims fell by 57,181 to 3,416,001.

The seasonally adjusted insured unemployment rate was unchanged
from the prior week at 3.0%. The current rate is well below the 3.6%
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 the level of unadjusted Emergency
Unemployment Compensation benefits claims declined by 57,420 in the
August 20 week, bringing that category to 3,060,622. Extended benefits
claims fell 21,031 to 536,892, not seasonally adjusted in the same week.

The Labor Department reported that a total of 7,169,176 persons
claimed unemployment benefits in the August203 week, a decline of
167,009 from the previous week, but still well below the 9,708,692
persons in the comparable week a year ago. 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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