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Tag Archives: Unemployment

Initial Jobless Claims Continue Steady Climb

First time claims for unemployment insurance increased 4,000 for the week ended Aug. 18 to 372,000, the highest level in a month, the Labor Department reported Thursday. Economists surveyed by Bloomberg had expected 365,000 initial claims. The prior week├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós total was revised up to 368,000 from the originally reported 366,000. Continuing claims ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô reported on a one-week lag ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô increased 4,000 to 3,317,000 from the prior week's 3,313,000, revised from the originally reported 3,305,000.

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Initial Jobless Claims Lower than Expected

First time claims for unemployment insurance fell 6,000 for the week ended Aug 4 to 361,000, the Labor Department reported Thursday. Economists surveyed by Bloomberg had expected 367,000 initial claims. The prior week├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós total was revised up to 367,000 from the originally reported 365,000.

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Economy Surprises With 163,000 New Jobs in July

The nation added a surprising 163,000 jobs in July but the unemployment rate ticked up to 8.3 percent as the number of people working actually declined, the Bureau of Labor Statistics reported Friday. At the same time, June's paltry job gains originally reported at 80,000 were reduced to 64,000 while May├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós job numbers edged up to 87,000 from 77,000. Average weekly hours remained 34.5 and average hourly earnings rose to $19.77 from $19.75, continuing pressure on household incomes, as the economic recovery sputters along.

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Initial Jobless Claims Up, Less than Expected

First time claims for unemployment insurance rose 8,000 for the week ended July 28 to 365,000, the Labor Department reported Thursday. Economists surveyed by Bloomberg had expected 370,000 initial claims. The prior week├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós total was revised up to 357,000 from the originally reported 353,000. Continuing claims ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô reported on a one-week lag ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô fell 19,000 to 3,272,000 from the prior week's 3,291,000, revised from the originally reported 3,297,000. The numbers reflected a slightly stronger labor picture after a volatile few weeks.

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Initial Jobless Claims Fall Sharply as Changes Befall Auto Industry

First time claims for unemployment insurance fell 35,000 for the week ended July 21 to 353,000, the Labor Department reported Thursday. Economists surveyed by Bloomberg had expected 380,000 initial claims. The prior week├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós total was revised up to 388,000 from the originally reported 386,000. The surprisingly strong report came just two weeks after initial claims had plunged to a four-year low ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô 352,000 ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô reflecting seasonal adjustments to account for annual auto industry furloughs as car makers retool for a new model year.

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Initial Jobless Claims Rebound to Four-Week High

First-time claims for unemployment insurance rose 34,000 for the week ended July 14 to 386,000 - the highest level in four weeks - the Labor Department said Thursday. Economists surveyed by Bloomberg had expected 365,000 initial claims. The prior week's total was revised up to 352,000 from the originally reported 350,000. Initial claims had plunged in the week ended July 7 to a four year low as seasonal adjustments ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô used to correct for sharp changes in raw data due to recurring annual phenomena ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô offset annual furloughs of auto workers when plants re-tooled for the new model year.

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Construction Industry Wavers as Home Sales Lift Economy

Increased home sales continue to help the United States out of its Great Recession, but uneven job growth is stunting recovery, according to Freddie Mac├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós U.S. Economic and Housing Market Outlook for July. The report, released Wednesday, showed that record-breaking low mortgage rates and refinances through HARP 2.0 drove up housing demand, leading to increases in housing starts, home sales, and prices in many markets. Housing starts for the first five months of the year averaged an annual rate of 719,000, a 26 percent increase from the same period in 2011.

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Will Underwater Homeowners Lead to Higher Prices?

Underwater homeowners are contributing to a lower inventory of houses for sale on the market, but according to Capital Economics negative equity will not have a major impact on housing prices. Regardless of the impact of negative equity, both Capital Economics and the National Association of Realtors foresee rising prices in the near future. The percentage of underwater homeowners is falling but remains elevated. CoreLogic said that 11.4 million homeowners were underwater in the first quarter.

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Initial Jobless Claims Reach Four-Year Low

First-time claims for unemployment insurance fell 26,000 to 350,00 in early July, reaching the lowest level since March 2008, the Labor Department reported Thursday. The prior week's total was revised up to 376,000 from the originally reported 374,000. Economists surveyed by Bloomberg had expected a modest decline to 375,000 initial claims. Continuing claims ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô reported on a one-week lag ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô fell 14,000 to 3,304,000 from the prior week's 3,318,000, revised from the originally reported 3,306,000.

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