Jobless claims: Another 326,000 individuals filed new claims last week

[mahatmakanejeeves]

Source: Yahoo! Finance

Yahoo Finance

Jobless claims: Another 326,000 individuals filed new claims last week

Emily McCormick·Reporter
Thu, October 7, 2021, 8:31 AM ·2 min read

U.S. states posted a bigger-than-expected drop in new jobless claims last week as impacts related to Hurricane Ida and the Delta variant's summer spike receded.

The Labor Department released its weekly jobless claims report Thursday morning. Here were the main metrics from the print, compared to consensus estimates compiled by Bloomberg:

-- Initial unemployment claims, week ended October 2: 326,000 vs. 348,000 expected and 362,000 during prior week

-- Continuing claims, week ended September 25: 2.714 million vs. 2.765 million expected and 2.802 million during prior week

Thursday's report ended a three-week streak of increases in new weekly jobless claims. First-time filings had reached 312,000, or the lowest level since March 2020, in early September before rising. Some economists attributed this to an uptick in coronavirus cases and disruptions due to Hurricane Ida, which may have caused some individuals to delay filing to mid-month.

With the four-week moving average for claims hovering around 340,000, weekly filings have come down precipitously from their pandemic-era highs. And beyond new claimants, the total number of continuing claimants across state unemployment benefits has also come down markedly. As of the week ended Sept. 11, just over 5 million individuals were claiming benefits across all unemployment programs, compared to 11.3 million during the prior week. This latest figure was pushed down in large part due to the expiration of crisis-era federal unemployment programs on Sept. 6, but has also been trending lower over the course of 2021 as rehiring activity picked back up.

{snip}

Read more: https://finance.yahoo.com/news/weekly-jobless-claims-week-ended-october-2-2021-181902403.html

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This is about ten percent less than expected.

Here's the placeholder alert:

COMING UP
Another 348,000 individuals likely filed new claims week ended Ot. 2
Check back at 8:30 a.m. ET for results

Here's the placeholder article:

Yahoo Finance

Jobless claims preview: Another 348,000 individuals likely filed new claims last week

https://finance.yahoo.com/news/weekly-jobless-claims-week-ended-october-2-2021-181902403.html

Emily McCormick · Reporter
Wed, October 6, 2021, 2:19 PM


U.S. states are expected to post a drop in new weekly jobless claims as impacts related to Hurricane Ida and the Delta variant's summer spike recede.

The Labor Department is set to release its weekly jobless claims report Thursday morning. Here are the main metrics expected from the print based on consensus estimates compiled by Bloomberg:

-- Initial unemployment claims, week ended October 2: 348,000 expected, 362,000 during prior week

-- Continuing claims, week ended September 25: 2.765 million expected, 2.802 million during prior week

Heading into Thursday's report, initial unemployment claims had climbed for three straight weeks, reflecting some backsliding in the labor market's recovery. First-time filings had reached 312,000, or the lowest level since March 2020, in early September before rising. Some economists attributed this to an uptick in coronavirus cases and disruptions due to Hurricane Ida, which may have caused some individuals to delay filing to mid-month.

"The run of unfavorable seasonals continues this week but it should be offset, in part, by a fall in claims triggered by Hurricane Ida," Ian Shepherdson, chief economist for Pantheon Macroeconomics, wrote in a note on Wednesday. "We tentatively expect initial claims to dip to about 340,000 from 362,000, but the uncertainty here is quite large."

[mahatmakanejeeves]

1. From the source:

https://www.dol.gov/ui/data.pdf

News Release

Connect with DOL at
https://blog.dol.gov

TRANSMISSION OF MATERIALS IN THIS RELEASE IS EMBARGOED UNTIL
8:30 A.M. (Eastern) Thursday, October 7, 2021

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS

SEASONALLY ADJUSTED DATA

In the week ending October 2, the advance figure for seasonally adjusted initial claims was 326,000, a decrease of 38,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 362,000 to 364,000. The 4-week moving average was 344,000, an increase of 3,500 from the previous week's revised average. The previous week's average was revised up by 500 from 340,000 to 340,500.

The advance seasonally adjusted insured unemployment rate was 2.0 percent for the week ending September 25, a decrease of 0.1 percentage point from the previous week's revised rate. The previous week's rate was revised up by 0.1 from 2.0 to 2.1 percent. The advance number for seasonally adjusted insured unemployment during the week ending September 25 was 2,714,000, a decrease of 97,000 from the previous week's revised level. This is the lowest level for insured unemployment since March 14, 2020 when it was 1,770,000. The previous week's level was revised up 9,000 from 2,802,000 to 2,811,000. The 4-week moving average was 2,765,000, a decrease of 34,500 from the previous week's revised average. This is the lowest level for this average since March 21, 2020 when it was 2,071,750. The previous week's average was revised up by 2,250 from 2,797,250 to 2,799,500.

{snip}

UNADJUSTED DATA

{snip. Emphasis mine}

The total number of continued weeks claimed for benefits in all programs for the week ending September 18 was 4,172,943, a decrease of 854,638 from the previous week. There were 24,609,335 weekly claims filed for benefits in all programs in the comparable week in 2020.

{snip the rest of the twelve-page news release, until the end}

Weekly Claims Archives
Weekly Claims Data

U.S. Department of Labor news materials are accessible at http://www.dol.gov. The Department's Reasonable Accommodation Resource Center converts Departmental information and documents into alternative formats, which include Braille and large print. For alternative format requests, please contact the Department at [phone] (voice) or [phone] (federal relay).

U.S. Department of Labor
Employment and Training Administration
Washington, D.C. 20210
Release Number: USDL 21-1815-NAT

Program Contacts:
Thomas Stengle: [phone]
Media Contact: [phone]

[BumRushDaShow]

2. Interesting the weather-related claims

Ida's impact was pretty significant in a number of states.

And yeah, tomorrow is the day. Am hoping the laptop can hang on (I had some issues with it this morning ). I do have another lightly used newer one right next to it that I mainly use to stream stuff push come to shove.

[cstanleytech]

3. I got lucky as I built myself a new gaming desktop about 6 months before the virus started

to hit China and then the world disrupting supplies so I am happy enough with my 2080 super video card.
Had been planning on getting one of the newer 3080s and passing the 2080 onto my brother for a budget system I built for him but the scalpers and bitcoin miners killed that idea as the price for those cards is way over the MSRP and thus out of ballpark altogether.
As for laptop............well I use one from 2012 for browsing the net in bed lol

[BumRushDaShow]

4. I was building desktops and servers about 15 years ago

and even running mobos overclocked, caseless, and headless with various Linux and *nix variants (e.g., NetBSD). Had a dual Xeon box and an alpha workstation and even an old sparcstation running a Linux or *BSD and running SETI with a team, and trying out some clustering.

I've been more recently playing around with a 2nd Raspberry Pi that I have running some open source weather software (weewx) that compiles and reports out my weather station's data on a local webpage using apache as a server (getting that data from a little weather sensor/gateway that listens for the packets and sends them to the Pi). And that weather software is written in python, with a bunch of config files to tailor the collection and display of it however I want, but it can be tedious since I have a bunch of additional sensors (like a lightning one and a couple soil moisture ones) and their data to go with the actual weather station that is mounted outside.

I bought 2 new UPS's a couple weeks ago that I need to swap in (to replace some old ones that are no longer holding a charge off the main power) so I won't keep killing my NAS drives when the power goes out. So that along with reconfiguring my home network is an ongoing project.

I know the laptop I currently use the most has a lot of stuff on it (I have 7 IP cameras and Blue Iris running on it along with a NEXRAD Level3 software data app looking at doppler radar), so although the poor thing generally works fine, it gets hiccups every once in awhile.

[mahatmakanejeeves]

6. I can find my laptop's power switch, and I upgraded to iOS 15 all by myself. So there's that. NT

[BumRushDaShow]

7. I am proud of you!

My main laptop has the power switch above the keyboard but my convertible one has it along the edge of the back corner cutout on the keyboard part (it's a touch screen type that can flip backwards, with keyboard to the rear, so it stands up on a table, and can run in "tablet" mode - I just run it in desktop mode though).

[LetMyPeopleVote]

5. The economists were expecting a higher number

This is a hopeful sign

[BumRushDaShow]

8. I think there is still a lot of "economic noise" going on

that a "model" can't really account for.