Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

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
.@BelvoirFederal revamped the checking acct. it offers to active duty military members and achieved 23% growth on the product in 1 mo.
9 hours ago
.@FinancialCmte markup of Reg D Study Act set for Tuesday. CUNA will submit support letter. http://t.co/cDWkZ0Q0x1
13 hours ago
The 54th Western CUNA Management School graduated 89 students on July 25.
13 hours ago
.@CUNA Bank Secrecy Act training to reach 38 Mich. state examiners #NewsNow http://t.co/7HDPgwih8G
15 hours ago
St. Louis treasurer taps #creditunion to serve unbanked #NewsNow http://t.co/lWtcezJOej
7 25 ago