Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Market
Jobless Claims Stats Impacted By Reporting Anomaly
WASHINGTON (9/13/13)--Initial U.S. claims for unemployment benefits plunged steeply last week to the lowest level since April 2006--mostly because work on computer systems resulted in under-reporting in two states, a government official said (The Wall Street Journal, Bloomberg.com and Moody's Economy.com  Sept. 12).  
 
Claims declined 31,000--to 292,000 for the week ended Sept. 7, the Labor Department said Thursday.
 
When the two states transitioned to new computer systems they failed to report all of their claims because the applications either did not get processed or were not received, said a Labor Department analyst, who declined to name the states, citing department policy. One state was large and the other was small, the analyst said.    
 
The week's decline was not a true sign of a healing labor market, and revised estimates in the next few weeks should correct the data, he added. Also, a shorter work week due to the Labor   Day holiday may have been a factor in the lower claims figure, the analyst said.
 
Meanwhile, continuing claims for unemployment benefits dropped 73,000--to 2.87 million--for the week ended Aug. 31.
Other Resources

CUNA National Economic Data
RSS





print
News Now LiveWire
Final field-of-membership rule tops April 30 NCUA agenda http://t.co/gFIhRhUCts
1 day ago
.@CUNA's @Nussle speaks to @VonnieQuinn about #StoptheDataBreaches and reg. relief. http://t.co/TMTubG9Afk
1 day ago
RT @NCUFoundation: .The Foundation's @hylandhighway with @NatlJumpStart President/CEO Laura Levine at #FLHillDay2015 today: http://t.co/ep5…
1 day ago
Seriously underwater homes rise, new-home sales tumble News Now: http://t.co/2LzWTkqnES
1 day ago
#NewsNow Cornerstone Foundation awards $71K in grants http://t.co/Y6D8K9rwWv
1 day ago