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Tag Archives: Bureau of Labor Statistics

First-Time Jobless Claims Spike to 4-Month High

Unemployment

First-time claims for unemployment insurance jumped an unexpected 28,000 to 385,000--the highest level since November--for the week ending March 30, the Labor Department reported Thursday. Economists expected claims to rise to 350,000. Initial jobless claims for the week ending March 23 were unchanged at 357,000.

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Commentary: No News Is…

Sometimes a story just fits--and sometimes it doesn't. Given that maxim, the explanation from the National Association of Realtors (NAR) for the drop in the Pending Home Sales Index (PHSI) for February has to be viewed with a jaundiced eye. According to the NAR, the PHSI dropped because of the low inventory of homes for sale. Of course, that wasn't offered as an explanation one month earlier, when the inventory of homes for sale dropped, and the PHSI increased.

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Initial Jobless Claims Make Surprise Jump

Unemployment

First-time claims for unemployment insurance jumped 16,000 to 357,000 for the week ending March 23, the strongest jump since mid-February, the Labor Department reported Thursday. Despite the unexpected bump, initial unemployment claims have fallen for seven of the first 12 weeks of the year, averaging just a shade over 350,000, the number most economists see as the tipping point between a strengthening and weakening jobs market.

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Commentary: Headlines and Bottom Lines

One of the most interesting results of poring through economic data reports is that the details often tell a different story than the headline. Coverage of the recent report on housing permits and starts, for example, was dominated by the increases in both metrics, suggesting a revival of the housing sector, a response some analysts suggested is due to tight inventories of existing-single family homes on the market. However, a closer look revealed a more important phenomenon.

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First-Time, Continuing Jobless Claims Continue to Drop

Unemployment

First time claims for unemployment insurance fell 10,000 to 332,000 for the week ending March 9, the Labor Department reported Thursday. Economists expected 350,000 initial unemployment claims. The drop in filings the third in the last four weeks resumed a downward trend in layoffs.

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Layoffs Fall to Record Low in January

Unemployment

The number of layoffs fell 4.0 percent to 1,507,000 in January, the Bureau of Labor Statistics reported Tuesday in its monthly Job Openings and Labor Turnover Survey (JOLTS) release. The layoff total was the smallest since the JOLTS reports began in December 2000.

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Commentary: Go With the Flow

According to the Flow of Funds report for Q4 2012, household assets grew to $79.5 trillion in the fourth quarter, an increase of $1.3 trillion--not too shabby. Household financial assets were up $784 billion to $54.4 billion but home equity (the value of household real estate less loans against that real estate) grew $452.8 billion, the result of two moving parts: real estate values (which increased) and household mortgage liabilities, which dropped. Once the dust settled, it meant equity in household real estate assets moved to 46.6 percent in the Q4.

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February Adds 236K Jobs, Unemployment Rate at 7.7%

Unemployment

The economy added 236,000 jobs in February and the unemployment rate slipped to 7.7 percent, its lowest level since December 2008, the Bureau of Labor Statistics (BLS) reported Friday. Economists had forecast payrolls would grow by 160,000 and that the unemployment rate would remain at 7.8 percent.

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First-Time Unemployment Claims Continue Downward Trend

Initial unemployment insurance claims fell 7,000 for the week ending March 2, closing the week at an advance estimate of 340,000, the Labor Department reported Thursday. The decline represents the fourth drop in the last five weeks, indicating a downward trend in layoffs.

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Initial Time Jobless Claims Up, Adding to Labor Concerns

Unemployment

First-time claims for unemployment insurance jumped 20,000 to 362,000 for the week ending February 16, the Labor Department reported Thursday. Economists expected 359,000 initial unemployment claims. The spike in filings--the largest in three weeks--marked a reversal of what had been a downward trend in layoffs.

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