Applications for jobless benefits increased by 17,000 for the week ending December 15, bringing the total to 361,000, up from last week’s revised figure of 344,000, the Labor Department announced on Thursday.
It’s the first time this measure has risen in five weeks.
The four-week moving average, a “less volatile” figure, decreased by 13,750, bringing the total to 367,750, down from last week’s revised average of 381,500.
“The advance seasonally adjusted insured unemployment rate was 2.5 percent for the week ending December 8, unchanged from the prior week’s unrevised rate,” reads the Labor Department report.
“The advance number for seasonally adjusted insured unemployment during the week ending December 8 was 3,225,000, an increase of 12,000 from the preceding week’s revised level of 3,213,000. The 4-week moving average was 3,240,500, a decrease of 33,500 from the preceding week’s revised average of 3,274,000,” the report adds.
The states with the largest increases in initial claims for the week ending December 15 were California (+5,952), Florida (+749), Ohio (+743), Rhode Island (+197), and Colorado (+161).
Meanwhile, New York (-11,295), Pennsylvania (-11,247), North Carolina (-8,564), Wisconsin (-5,726) and Georgia (-5,317) posted the biggest decreases in initial claims.
“Job gains so far this year have averaged 151,000 per month, a pattern that is likely to hold through December amid fears the U.S. Congress and the Obama administration could fail to agree on a deal to prevent tighter fiscal policy next year,” Reuters notes.
“About $600 billion in government spending cuts and higher taxes could be pulled out of the economy in early 2013, and tip it back into recession unless an agreement is reached on a less punitive plan to reduce budget deficits,” the report adds.
Nothing “unusual” contributed to today’s data, according to a Labor Department official.
“It seems some sense of normality has returned to the initial claims numbers, if that could ever be the case,” writers at Zero Hedge note.
“This week’s data remains below the year’s average, though not by much, and the trend of claims falling appears to have almost entirely stalled this year from the hope-driven moves of the previous two years,” they add.
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conmil
Dec. 20, 2012 at 4:46pmWe need to give Obama everything he wants as far as the tax cuts are concerned. He will not do spending cuts. When the country hits another recession in 6-months he and the Dems will get the blame and 2014 will be another Republican sweep. Unfortunately, Republicans will screw this up big time, and get blamed for everything.
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Walkabout
Dec. 20, 2012 at 10:09am““The advance seasonally adjusted insured unemployment rate was 2.5 ”
INSURED unemployment rate
so once your government INSURANCE runs out, you are not counted making their life easier. Out of sight & Out of mind. And NBC i is complicit in the hiding if the UNinsured unemployed.
that would make a bigwig at NBC like Brian Williams complicit in the hardship of the UNinsured unemployed.
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Cavallo
Dec. 20, 2012 at 9:52amEh, one more day until the cannibals say we all die anyway, and who can argue with people who couldn’t figure out crop rotation?
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Proverbs17-12NLT
Dec. 20, 2012 at 9:44amGreat news this should bring the unemployment rate down under 7% for the first time In 4 years. Sarc.
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RaydocX
Dec. 20, 2012 at 9:38amMerry Christmas, sheeple of the 47%…
Here’s your severence… hope it’s enough to feed your family at least one more good meal before you have to line up for the government cheese…
How many decades will it be before true journalists write scathing pieces about how complicit in lying to the citizens this MSM was? And how utterly corrupt and morally flawed this administration was?
We can’t address the unemployment issue and the economy, though… have to chase after trumped up anger at inanimate objects so that people feel good about what a ‘President of the year’ they re-elected… after all, his plans for the other even he knows won’t work, the goal is to push the repurcussions onto whoever follows him.
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hauschild
Dec. 20, 2012 at 10:23amIt’s an increasingly Third-World mentality that’s swept across this country, which frightens the dickens outta me.
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yougottabekidding
Dec. 20, 2012 at 9:34amA thought
If we give more unemployment compensation to those no longer getting it, the unemployment rate will go up!
Now they again figure in because if you get unemployment your looking for work!!!!!!!!!!!!!!!!!!!!!
Isn’t that the way it works? If you don’t have a job but no longer get compensated you are no longer unemployed?
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barber2
Dec. 20, 2012 at 9:33amStarted the day with the news that dock strikes are imminent on the East coast ( just like they had on the west coast ) and that the Obama DOJ has successfully a company for Discrimination. Their crime ? They had insisted that only American citizens be hired . The Obama / Holder DOJ ‘s War on Capitalism just marches on….next guns.. and then ???
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Walkabout
Dec. 20, 2012 at 9:32amExcept for the Low information voter, It will become apparent around March or April just how much Obama & people working for him lied about unemployment.
The yearly unemployment figures should come out in March then for 2012.
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RJJinGadsden
Dec. 20, 2012 at 9:36amLike the delayed reporting of the California records for the months of September and October. Amazing timing, wasn’t that?
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barber2
Dec. 20, 2012 at 9:45amRJJ: Like the delayed ( ? ) appearance of Hilary before the Benghazi investigation . Delay. Obstruct. Blame. Target.
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Walkabout
Dec. 20, 2012 at 10:15amThey report adjustment for monthly unemployment in the succeeding 2 months. Then if any adjustments are to be made it is put in the yearly unemployment wrap of of the succeeding year.
If they lie about the unemployment rate, then at some point there has to be a correction.
My guess is the Regime would do so if the Republican pass a bill that they could blame it on. then all the sudden the figure would jump.
Actually the Dems would haver a hard time explaining why the economy sucked without an opposition party. Blame in such a case could only rest in one place.
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