2017 US Unemployment Extension News





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12/17/2017: in December of 2017 : US job openings remain at a record high level, with 6 million available opportunities, while the factory activity index edged down by 0.5 to 58.2. The price of labor per unit of output, dropped 0.2%. There is currently no evidence that the economy is getting close to overheating due to a tightening labor market. The US hourly wages increased to $26.55 (+2.5% since November of 2016). Consumer price index remains unchanged at 2.2%, while the real national GDP is up to +3.3%. The new number of unemployment claims decreased by 11,000 to 225,000, mainly due to incremental jobs in NY, CA, PA, and TX. The four-week moving average declined by 6,750 to 234,750. Insured unemployment fell by 27,000 to reach 1.89 million.

12/10/2017: in December of 2017 : November's US unemployment rate remains unchanged at 4.1%. Employers added 228,000 new jobs: Education and Healthcare +54,000, Professional Services +46,000, and Manufacturing +31,000, while Information Industry lost -4,000 jobs. Hospitality added +274,000 new jobs in the past 12 months, Health and Education added +218,000, Manufacturing +189,000, Financial Services +150,000, Construction +132,000, Mining added 61,000, while Government remains unchanged, and Information Industry lost -83,000. Hourly wages increased by +5 cents since November. The labor participation in the economy remains unchanged at 62.7%, and it is still 3.5% lower than the pre-recession level. The weekly claims for unemployment benefits decreased by 2,000, to 236,000. The four-week moving average declined by 750, to reach 241,500. Insured unemployment fell by 52,000 to reach 1.91 million.



12/3/2017: in December of 2017 : November's national unemployment rate is expected to increase to 4.3%. A new study found that the new US tax bill is unlikely to increase the rate of economic growth or decrease the unemployment. The US factory activity index fell 0.5% to 58.2 in November signifying a minor economic slowdown. The new number of unemployment benefit claimants dropped by 2,000 to reach 238,000 mainly due to job gains in CA and TX. The four-week moving average increased by 2,250, to reach 242,250. Insured unemployment rose by 42,000 to reach 1.96 million.

11/26/2017: in November of 2017 : Recent studies show that low-wage employees from the service industry are three times as likely to be sexually harassed than their counterparts from other industries. The real GDP expanded at an annualized rate of 3% or higher in the past three consecutive quarters. Federal Reserve expressed concerns that financial markets are overheated and may pose a danger to the US economy. The number of new unemployment benefits claims decreased by 13,000, to reach a total of 239,000, mostly due to temporary jobs in TX and MN. The four-week moving average increased by 1,250, to reach 239,750. Insured unemployment increased by 36,000 to reach 1.90 million.

11/19/2017: in November of 2017 : Currently, only 5 of US states have their unemployment rates higher than 5%. The unemployment rate is at historically lowest levels in HI at 2.2%, ID at 2.9%, TN at 3.0%, AL at 3.6%, TX at 3.9%, WA at 4.5% and MS at 4.9%. There are some signs of economic slowdown. Economists estimate 10% chance of recession in the next 12 months. The new number of unemployment benefits claims increased by 10,000, to reach a total of 249,000, mainly due to job losses in Construction in NY and MN. The four-week moving average rose by 6,500, to reach 237,750. Insured unemployment decreased by 44,000 to reach 1.86 million - the lowest level since December of 1973.

11/12/2017: in November of 2017 : Studies show that trade schools give better chances for high earnings later in life than 4-year colleges. Many of trade jobs pay on average $60,000 and more, while unlikely to become automated in the foreseen future. The US hourly wages have increased to $26.53 (+2.4% since October of 2016). Consumer price index is at 2.2%, while the real national GDP is up +3.1%. The new number of unemployment claims rose by 10,000 to 239,000, mainly due to job losses in MI and PA. The four-week moving average declined by 1,250 to 231,250 - the lowest level since March 1973. Insured unemployment increased by 17,000 to reach 1.90 million.

11/5/2017: in November of 2017 : October's US unemployment rate declined to 4.1% (down -0.1%) and is at the lowest level since December of 2000. Many businesses are struggling to find employees - an indication of a significant skill gap between demand and supply. Employers added 261,000 new jobs: Hospitality +106,000, Professional Services +50,000, Healthcare +41,000, and Manufacturing +24,000, while Retail lost -8,000 jobs. Manufacturing added +156,000 new jobs since October of 2016. Hourly rates slightly declined by -1 cents since September. The labor participation rate experienced a significant drop of -0.4% to 62.7%, and it is still 3.5% higher than the pre-recession level. The weekly claims for unemployment benefits decreased by 5,000, to 229,000. The four-week moving average declined by 7,250, to reach 232,500 - the lowest level since April of 1973. Insured unemployment fell by 15,000 to reach 1.88 million - the lowest level since December of 1973.

10/29/2017: in October of 2017: October's national unemployment rate forecast is 4.2% with 200,000 new jobs added by US employers. California is about to start a basic income experiment. US manufacturing has lost 30% of jobs since 1997, while the trucking industry is currently short 50,000 employees and the warehousing renaissance created by Amazon drives a hiring spree across the US. The number of unemployment claims rose by 10,000 to reach 233,000, mainly due to job losses in CA, NY, and PA. The four-week moving average decreased by 9,000 to 239,500. Insured unemployment fell by 3,000 to reach 1.89 million - the lowest level since December 1973.



10/22/2017: in October of 2017: The US economy is statistically at full employment. Currently, most of the US jobseekers should be able to find a job if they want one. 4 US states are at their historically lowest unemployment rate. ID at 2.8%, TN at 3.0%, AL at 3.8%, and TX at 4.0%. Currently, all but ten US states have their unemployment rate below 5%. The new number of unemployment benefits claims decreased by 22,000, to reach a total of 222,000 - the lowest level since March 1973 - mostly due to jobs added in FL, MI, and GA by Construction and Retail. The four-week moving average decreased by 9,500, to reach 248,250. Insured unemployment fell by 16,000 to reach 1.89 million - the lowest level since April of 2000.

10/16/2017: in October of 2017: September's average hourly rate is $26.55, an increase of +2.9% since October of 2016, while consumer price index rose 2.2 %. During the same period, the real national GDP outperformed both of them at an estimated +3.1%. FED Labor Market Conditions Index is up 40% since September of 2016. Also, 70% of Americans believe their job cannot and will not be automated. The new number of claims decreased by 15,000 to 243,000. The four-week moving average dropped by 9,500 to 257,500. Insured unemployment fell by 32,000 to reach 1.89 million - the lowest level since December of 1973.

10/8/2017: in October of 2017 : September's national unemployment rate decreased to 4.2% (down 0.2%) while the economy lost 33,000 jobs mostly due to decline in employment in food and drink industries as a result of Hurricanes Irma and Harvey. Hourly rates increased by impressive 12 cents since August as well as the annual growth rate of 2.9% since September of 2016. The labor participation rate surged to 63.1% (+0.2%). The weekly claims for unemployment benefits decreased by 12,000, to 260,000. The four-week moving average fell by 9,500, to reach 268,250. Insured unemployment rose by 2,000 to reach 1.94 million.

10/1/2017: in October of 2017 : September's national unemployment rate is expected to stay flat at 4.4% with approximately 90,000 new jobs added by US employers. US job openings are at a record high, and qualified workers are not easy to find. Hurricanes in Florida and Texas devastated the economy, but economists predict that the impact will only be temporary and as a side-effect may induce an impressive economic growth later this year. The new number of unemployment benefit claimants increased by 12,000 to reach 272,000 mainly due to Hurricanes Harvey and Irma job losses in FL and GA. The four-week moving average rose by 9,000, to reach 277,750. Insured unemployment dropped by 45,000 to reach 1.93 million, the lowest level since mid-2000.

9/24/2017: in September of 2017 : The unemployment rate is lowest in ND at 2.3%, CO at 2.4%, HI at 2.6%, NH at 2.7%, and NE at 2.8%. Currently, all but 11 states have their unemployment rates below 5%. The US Academy of Sciences confirmed that the long-term fiscal impact of the lowest-skilled immigrants is negative, while that of skilled immigrants is positive. The construction industry is struggling to recruit enough people to keep up with growing demand for homes. The new number of unemployment benefits claims decreased by 23,000, to reach a total of 259,000, mainly due to employees returning to work in Texas. The four-week moving average increased by 6,000, to reach 268,750. Insured unemployment rose by 44,000 to reach 1.98 million.

9/10/2017: in September of 2017 : The US hourly wages have increased to $26.39 (+2.5% since August of 2016). Consumer price index rose +1.7% with the highest growth of +7.5% in utilities and the slowest of -4.1% in used cars. During the same period, the real national GDP increased at a faster pace of +2.2%. The number of building permits declined -3.5 %. The new number of unemployment claims soared by 62,000 to 298,000, the highest level since April of 2015, mainly due to the effect of Hurricane Harvey in Texas. Additional job losses are expected in Florida due to Hurricane Irma. The four-week moving average increased by 13,500 to 250,250. Insured unemployment decreased by 5,000 to reach 1.94 million.

9/4/2017: in September of 2017 : August's national unemployment rate increased to 4.4% (up 0.1%) with additional 156,000 jobs added by US employers - Manufacturing +36,000, Professional Services +40,000, Construction +28,000, and healthcare +25,000. Manufacturing added +155,000 new jobs since December of 2016 - a growth rate unseen since the recession. Hourly rates increased by modest 3 cents since July and typical annual growth rate of 2.5% since August of 2016. The labor participation rate remains unchanged 62.9% (flat), but it is still 3.4% higher than the pre-recession rate. The weekly claims for unemployment benefits increased by 1,000, to 236,000. The four-week moving average decreased by 1,250, to reach 236,750. Insured unemployment fell by 12,000 to reach 1.94 million.

8/27/2017: in August of 2017 : August's preliminary national unemployment rate is 4.3% with an estimated 185,000 new jobs added to the US economy. The long-term unemployment improved by 232,000 since July of 2016. There are currently almost 154 million Americans with full or part-time jobs. The number of unemployment claims rose by 2,000 - less than expected, to reach 234,000, mainly due to job losses in CA in the service industry. The four-week moving average decreased by 2,750, to 237,750. Insured unemployment remains unchanged at 1.96 million.

8/20/2017: in August of 2017 : 6 US states are at their historically lowest unemployment rate. ND at 2.2%, CO at 2.4%, AR at 3.4%, TN at 3.4%, OR 3.8%, and WA at 4.5%, while CA and MS lost their positions since July. Currently, all but 10 states have their unemployment rate below 5%. US employers created 1M new jobs since Jan 2017. More women and racial minorities are among US top executives than ever before. The new number of unemployment benefits claims decreased by 12,000, to reach a total of 232,000. The four-week moving average fell by 500, to reach 240,500. Insured unemployment fell by 3,000 to reach 1.95 million.



8/13/2017: in August of 2017 : The US hourly wages have increased to $26.36 (+2.5% since July of 2016), while consumer price index rose 1.7%. During the same period, the real national GDP increased at a slower pace of +2.1%. The number of building permits surged 7.5 %. The new number of unemployment claims increased by 3,000 to 244,000, mainly due to job losses in KS in Business and Professional Services. The four-week moving average decreased by 1,000 to 241,000. Insured unemployment fell by 16,000 to reach 1.91 million.

8/5/2017: in August of 2017 : July's national unemployment rate decreased to 4.3% (down 0.1%) with additional 209,000 jobs added to the US economy, mostly in Hospitality, Healthcare, and Professionals Services. Hourly rates improved by 9 cents since June and 2.5% since July of 2016. The labor participation rate inched up to 62.9% (+0.1%) but is still 3.3% below the pre-recession level (i.e. 8.4 million jobs permanently vanished from the US economy). The weekly claims for unemployment benefits decreased by 5,000, to 240,000. The four-week moving average rose by 2,500, to reach 241,750. Insured unemployment increased by 3,000 to reach 1.97 million.

7/30/2017: in July of 2017 : July's preliminary national unemployment rate is 4.3% with 180,000 new jobs added to the US economy. The Core Personal Consumption Expenditures Index is down 0.1% (at 1.4%). The long-term unemployment improved by 322,000 since June of 2016. The number of unemployment claims grew by 10,000 to reach 244,000, mainly due to new jobs in NY in transportation and warehousing. The four-week moving average remains unchanged at 244,000. Insured unemployment decreased by 13,000 to reach 1.96 million.

7/23/2017: in July of 2017 : 8 US states are at their historically lowest unemployment rate. Currently, all but 6 states have their unemployment rate at 5% and below, with almost half of all states with the rate below 4%. CO and ND lead with the rate of 2.3% while AK shuffles in the last place with 6.8%. The real unemployment rate is 8% (down 0.2% since May). The new number of unemployment benefits claims decreased by 15,000, to reach a total of 233,000. The four-week moving average fell by 2,250, to reach 243,750. Insured unemployment increased by 28,000 to reach 1.98 million.

7/16/2017: in July of 2017 : While U.S. job growth surpassed expectations, wages continue to lag. The average hourly rate is $26.25, an increase of +2.5% since June of 2016, while consumer price index rose 1.6%. During the same period, the national real GDP grew faster at an estimated +2.1%. FRED's reported a decrease in Labor Market Index to +1.5% (-1.8%). The new number of claims fell by 3,000 to 247,000 mainly to new jobs in CA, MO, and MA offset by job losses in NY across multiple industries. The four-week moving average increased by 2,250 to 245,750. Insured unemployment fell by 20,000 to reach 1.95 million.

7/9/2017: in July of 2017 : June's national unemployment rate increased to 4.4% (up 0.1%) with additional 222,000 jobs added by US employers - Education and Health +45,000, Professional Services +35,000, and Financial Services +17,000. Professional Services industry has also been the largest job growth engine with over 600,000 jobs added in the past 12 months. Hourly rates increased by 4 cents since May and 2.5% since June of 2016. The labor participation rate has slightly increased to 62.8% (up 0.1%), but it is still 3.4% higher than the pre-recession rate, which means that 8.7 million jobs have permanently vanished from the economy). The weekly claims for unemployment benefits increased by 4,000, to 248,000. The four-week moving average rose by 750, to reach 243,000. Insured unemployment increased by 11,000 to reach 1.96 million.

6/25/2017: in June of 2017 : The US Federal Reserve Bank hiked the interest rates by 0.25% for the second time in 2017. The average hourly rate is $26.22, an increase of +2.5% since May of 2016, while consumer price index rose +1.9% and the national real GDP rose an estimated +1.7%. FRED's reported a favorable Labor Market Conditions Index of +3.5%. There are currently 6 million jobs that US employers are unable to fill due to the shortage of skills. The new number of claims decreased by 8,000 to 237,000 mostly due to job gains in TN and AR. The four-week moving average increased by 1,000 to 243,000. Insured unemployment increased by 6,000 to reach 1.94 million.

6/18/2017: in June of 2017 : Eight US states are at their historically lowest unemployment rate. CO at 2.3%, ND at 2.5%, ME at 3.2%, AR at 3.4%, OR 3.6%, WA at 4.5%, CA at 4.7%, and MS at 4.9%. Currently, all but seven states have their unemployment rate below 5%. The new number of unemployment benefits claims increased by 3,000, to reach a total of 241,000 mostly due to job losses in CA, MD, and WI in the service industry. The four-week moving average rose by 1,500, to reach 244,750. Insured unemployment increase by 8,000 to reach 1.94 million.

6/11/2017: in June of 2017 : May's national unemployment rate decreased to 4.3% (down 0.1%) with additional 138,000 jobs added by the US employers, mostly in Education and Healthcare +47,000, Professional Services +38,000, Hospitality +31,000, and Mining +6,000, while Government lost -9,000 jobs. The number of unemployed declined by 195,000 to 6.9 million. The labor participation rate weakened to 62.7% (down -0.2%). The weekly claims for unemployment benefits decreased by 10,000, to 245,000 due to the jobs added by Service industry in CA. The four-week moving average rose by 2,250, to reach 242,000. Insured unemployment fell by 2,000 to reach 1.92 million.

5/28/2017: in May of 2017 : While President Trump promises to increase U.S. economic growth to 4%, so far the economy continues to operate in a Goldilocks zone with an estimated annual rate of 1.2%. Low unemployment rates could encourage the Federal Reserve to raise interest rates. Manufacturing orders are also on the rise but at a slower pace. The new number of benefits claims increased by 1,000, to reach a total of 234,000, mainly due to job losses in MI. The four-week moving average fell by 5,750, to reach 235,250 - the lowest level since April of 1973. Insured unemployment increased by 24,000 to reach 1.92 million.

5/21/2017: in May of 2017 : Six US states are at or below their historically lowest unemployment rates. Only six remaining states have their unemployment rate above 5%. In a situation of almost full employment, economists are puzzled with more than modest increases in hourly wages. The new number of unemployment benefits claims decreased by 4,000, to reach a total of 232,000, mostly due to job gains in CA. The four-week moving average fell by 2,750, to reach 240,750. Insured unemployment declined by 22,000 to reach 1.90 million - the lowest level since November of 1988.

5/14/2017: in May of 2017 : The average hourly rate is $26.19, an increase of +2.5% since April of 2016, while consumer price index rose 2.3 %. During the same period, the national real GDP grew slower at an estimated +1.9%. FRED's reported a somewhat favorable Labor Market Index of +3.5%. The new number of claims decreased by 2,000 to 236,000. The four-week moving average increased by 500 to 243,500. Insured unemployment fell by 61,000 to reach 1.92 million - the lowest level since November of 1988.

5/7/2017: in May of 2017 : Unsurprisingly, April's national unemployment rate declined to 4.4% (down 0.1%) with an additional 211,000 jobs added by the US employers, mostly in Leisure and Hospitality +55,000, Education and Health Services +41,000, Professional and Business Services +39,000, Financial +19,000, and Mining +10,000, while high-tech lost -7,000 jobs. This sector has been on a decline in the past six months with cumulative 45,000 lost jobs. The number of unemployed fell by 146,000 to 7.06 million. The labor participation rate decreased to 62.9%. Also, it is 3.3% lower than the pre-recession rate. The weekly claims for unemployment benefits dropped by 19,000, to 238,000. The four-week moving average slightly increased by 750, to reach 243,000. Insured unemployment fell by 23,000 to reach 1.96 million.

4/30/2017: in April of 2017 : April's preliminary national unemployment rate is 4.4%. FRED's Labor Market index is down to 0.4%. The real unemployment rate is at 8.0%, 3.2% higher than the pre-recession rate of 4.8%. Real gross domestic product (GDP) rose at an unexpectedly low rate of 0.7% in the first quarter of 2017. The number of unemployment claims increased by 14,000 to reach 257,000, mainly due to 16,000 job losses in NY. The four-week moving average fell by 500, to reach 242,250. Insured unemployment increased by 10,000 to reach 1.99 million.

4/23/2017: in April of 2017 : Five US states are at their historically lowest unemployment rate. CO at 2.6%, ME at 3.0%, AR at 3.6%, OR 3.8%, and MS at 5.0%. Currently, all but 13 states have their unemployment rate below 5%. The new number of unemployment benefits claims increased by 10,000, to reach a total of 244,000. The four-week moving average decreased by 4,250, to reach 243,000. Insured unemployment fell by 49,000 to reach 1.98 million - the lowest level since April of 2000.

4/16/2017: in April of 2017 : The average hourly rate is $26.14, an increase of +2.7% since March of 2016. During the same period, the national real GDP grew a bit slower at an estimated +2.1%, while consumer price index increased by 2.4% resulting in paychecks remaining fundamentally flat year-over-year. FRED's reported a drop in Labor Market Index of -1.1% to 0.4%. The new number of claims decreased by 1,000 to 234,000 due to fewer job losses in MI. The four-week moving average declined by 3,000 to 247,250. Insured unemployment fell by 7,000 to reach 2.03 million.

4/9/2017: in April of 2017 : March's national unemployment rate decreased to 4.5% (down 0.2%) with additional 98,000 jobs added by the US employers, mostly in Professional and Business Services +56,000, Mining +11,000, Manufacturing +11,000, while retail lost -30,000 jobs. The number of unemployed declined by 326,000 to 7.2 million. The labor participation rate remains unchanged at 63.0% but is still 3.2% lower than the pre-recession rate. The weekly claims for unemployment benefits decreased by 25,000, to 234,000. The four-week moving average fell by 4,500, to reach 250,000. Insured unemployment fell by 24,000 to reach 2.03 million.

4/2/2017: in April of 2017 : March's preliminary national unemployment rate is 4.5%. While the overall unemployment situation has significantly improved since the recession, some minorities and lower-income groups remain affected by persistently high unemployment rates. It is highly unlikely that any improvements in those communities will be possible without outside intervention. The number of unemployment claims decreased by 3,000 to reach 258,000, mainly due to job recoveries in OH, KS, and MO in Manufacturing, Transportation, and Administrative industries. The four-week moving average rose by 7,750, to reach 254,250. Insured unemployment increased by 65,000 to reach 2.05 million.

3/26/2017: in March of 2017 : With nearly three-quarters of all states approaching full employment, average wages have started growing again. The new number of initial unemployment claims increased by 15,000 to reach 261,000, mainly due to job losses in OH, KS, and MO, including the closure of two Ohio coal plants. The four-week moving average rose by 3,500, to reach 246,500. Insured unemployment decreased by 35,000 to reach 1.99 million - a drop of nearly 200,000 since March of 2016. It is also the lowest level since May 2000.

3/19/2017: in March of 2017 : The average hourly rate is $26.09, an increase of +2.8% since February of 2016. During the same period, the national real GDP grew slower at an estimated +1.6%. FRED's reported no change in the Labor Market Index of +1.3%. The new number of claims decreased by 2,000 to 241,000 due to job gains in NY mostly in transportation and warehousing. The four-week moving average increased by 750 to 237,250. Insured unemployment fell by 30,000 to reach 2.03 million.

3/12/2017: in March of 2017 : February's national unemployment rate decreased to 4.8% (down 0.1%) with additional 235,000 jobs added by the US employers, mostly in Education and Health +62,000, Construction +58,000, while Retail lost -26,000 jobs. The labor participation rate has grown to 63.0% (up 0.1%) but is still 3.2% lower than the pre-recession rate (i.e. 8.1 million jobs permanently disappeared from the economy). The weekly claims for unemployment benefits increased by 20,000, to 243,000. The four-week moving average rose by 2,250, to reach 236,500. Insured unemployment fell by 6,000 to reach 2.06 million.

3/5/2017: in March of 2017 : Federal Reserve's Chair Janet Yellen confirmed that the interest rate would increase in late March. The new number of unemployment benefit claimants decreased by 19,000 to reach 223,000 mainly due to job gains in CA and MI. The four-week moving average fell by 6,250, to reach 234,250. Insured unemployment increased by 3,000 to reach 2.07 million.

2/26/2017: in February of 2017 : February's preliminary national unemployment rate is 4.8%. FRED's Labor Market index is up to 1.3%. The White House is preparing a plan to increase annual economic growth from the current 1.8-1.9% to 3-3.5%. The real unemployment rate is at 8.4%, while the long-term unemployment improved by 244,000 since January of 2016. The number of unemployment claims increased by 6,000 to reach 244,000, mainly due to job losses in MI and NJ in manufacturing and trade. The four-week moving average fell by 4,000, to reach 241,000, the lowest level since July 1973. Insured unemployment decreased by 17,000 to reach 2.06 million.

2/20/2017: in February of 2017 : While the US economy is not in a perfect state, most of the remaining issues are structural in nature and will require changes in the underlying market fundamentals to improve. Federal Reserve System plans to increase rates three times this year. The labor market is deemed to be at full employment, though we still haven't seen any significant hikes in wages. Building permits are up 4.6% since last month. The new number of unemployment claims increased by 5,000, to reach a total of 239,000 mainly due to job losses in CA in agriculture and forestry. The 4-week moving average rose by 500 to 245,250. Insured unemployment decreased by 3,000 to reach 2.08 million.

2/12/2017: in February of 2017 : The current average hourly rate is $26, an increase of +0.1% since January 2016 (or -1.5% when adjusted for inflation). During the same period, the real national GDP grew by an estimated +1.6%. The least of the real wage loss took place in mining and logging, while financial services suffered a 2.6% loss. The new number of unemployment claims decreased by 12,000 to 234,000. The four-week moving average fell by 3,750 to 244,250. Insured unemployment rose by 15,000 to reach 2.08 million.

2/5/2017: in February of 2017 : January's national unemployment rate increased to 4.8% with an additional 227,000 jobs added to the US economy, mostly in Retail, Construction, and Financial Services. Hourly rates improved by 3 cents since December and 2.5% since January 2016. The labor participation rate has grown to 62.9% (up 0.2%) but is still 3.3% lower than the pre-recession rate (i.e. 8.4 million jobs permanently disappeared from the economy). The weekly claims for unemployment benefits decreased by 14,000, to 246,000. The four-week moving average rose by 2,250, to reach 248,000. Insured unemployment fell by 39,000 to reach 2.06 million.

1/29/2017: in January of 2017 : January's preliminary national unemployment rate is 4.7%. President Trump calls for an overhaul of the unemployment rate calculations to more accurately reflect the state of the economy. As a result, the December 2016 unemployment rate of 4.7% may be revised to an estimated 6%. The number of unemployment claims increased by 22,000 to reach 259,000, mainly due to job losses in NY in transportation and warehousing. The four-week moving average fell by 2,000, to reach 245,500, the lowest level since November 1973. Insured unemployment rose by 41,000 to reach 2.10 million.

1/22/2017: in January of 2017 : The labor market is nearing full employment. The housing market is at an 8-year high, though it is still lower than the pre-recession level. Reported by the U.S. Labor Statistics Department, the new number of unemployment claims decreased by 15,000, to reach a total of 234,000 mainly due to added jobs in NY and GA, offset by job losses in CA. The 4-week moving average fell by 10,250 to 246,750. Insured unemployment decreased by 47,000 to reach 2.05 million.

1/15/2017: in January of 2017 : The average hourly rate is $26, an increase of +2.9% since December of 2015. During the same period, the national real GDP grew slower at an estimated +1.7%. FRED reported an unfavorable Labor Market Index of -0.3%. The new number of claims increased by 10,000 to 247,000 due to job losses in NY, GA, and TX mostly in hospitality, IT, and transportation. The four-week moving average declined by 1,750 to 256,000. Insured unemployment fell by 29,000 to reach 2.09 million.

1/8/2017: in January of 2017 : December's national unemployment rate increased slightly to 4.7%. The US employers added 156,000 new jobs with the vast majority in Education and Healthcare. Manufacturing rallied with 17,000 new jobs. Sadly, high-tech jobs moving overseas does not attract as much media attention as the outsourcing of manufacturing jobs, even though they command better wages and their dissipation destroys any hopes for middle-class upward mobility. The labor participation rate crawled up to 62.7% with no signs of improvement since October 2013. The weekly claims for unemployment benefits decreased by 28,000, to 235,000. The four-week moving average dropped by 5,750, to reach 256,750. Insured unemployment increased by 16,000 to reach 2.11 million.

1/1/2017: in January of 2017 : December's national unemployment rate forecast is 4.8% with approximately 160,000 new jobs added by US employers. The new number of benefits claims decreased by 10,000 last week, to reach 265,000 - 95th consecutive week of unemployment applications below 300,000. The four-week moving average fell by 750, to reach 263,000. Insured unemployment grew by 63,000 to reach 2.10 million.

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*IMPORTANT: Be sure to check with your State for details on your full eligibility requirements, or to begin the voluntary benefits process.