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Jobless Claims Significantly Higher Than Expected

Wrong direction for the economy.

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA

In the week ending March 30, the advance figure for seasonally adjusted initial claims was 385,000, an increase of 28,000 from the previous week’s unrevised figure of 357,000. The 4-week moving average was 354,250, an increase of 11,250 from the previous week’s unrevised average of 343,000.

The advance seasonally adjusted insured unemployment rate was 2.4 percent for the week ending March 23, unchanged from the prior week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending March 23 was 3,063,000, a decrease of 8,000 from the preceding week’s revised level of 3,071,000. The 4-week moving average was 3,067,250, a decrease of 10,500 from the preceding week’s revised average of 3,077,750.

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 314,016 in the week ending March 30, a decrease of 1,596 from the previous week. There were 315,714 initial claims in the comparable week in 2012.

The advance unadjusted insured unemployment rate was 2.6 percent during the week ending March 23, unchanged from the prior week’s unrevised rate. The advance unadjusted number for persons claiming UI benefits in state programs totaled 3,320,163, a decrease of 82,391 from the preceding week’s revised level of 3,402,554. A year earlier, the rate was 2.9 percent and the volume was 3,636,712.

The total number of people claiming benefits in all programs for the week ending March 16 was 5,288,614, a decrease of 167,165 from the previous week. There were 7,050,710 persons claiming benefits in all programs in the comparable week in 2012.

Extended Benefits were available only in Alaska during the week ending March 16.

Initial claims for UI benefits filed by former Federal civilian employees totaled 1,109 in the week ending March 23, a decrease of 67 from the prior week. There were 2,335 initial claims filed by newly discharged veterans, an increase of 65 from the preceding week.

There were 20,240 former Federal civilian employees claiming UI benefits for the week ending March 16, a decrease of 113 from the previous week. Newly discharged veterans claiming benefits totaled 38,662, an increase of 339 from the prior week.

States reported 1,799,625 persons claiming EUC (Emergency Unemployment Compensation) benefits for the week ending March 16, a decrease of 106,699 from the prior week. There were 2,815,108 persons claiming EUC in the comparable week in 2012. EUC weekly claims include first, second, third, and fourth tier activity.

The highest insured unemployment rates in the week ending March 16 were in Alaska (5.7), Puerto Rico (4.4), New Jersey (4.0), Rhode Island (4.0), Pennsylvania (3.9), Connecticut (3.8), Montana (3.8), Wisconsin (3.7), California (3.6), and Massachusetts (3.6).

The largest increases in initial claims for the week ending March 23 were in California (+8,712), Texas (+2,736), Kansas (+1,611), Arkansas (+1,542), and Pennsylvania (+1,448), while the largest decreases were in Virginia (-1,117), Massachusetts (-804), South Carolina (-602), Puerto Rico (-529), and North Carolina (-503).

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