Connect with us

Hi, what are you looking for?

The American GeniusThe American Genius

Economic News

Unemployment claims jumps 20,000 in one week

Unemployment claims jumped a bit recently, but does it mean the trend is negative, or is it to be expected?

unemployment office

unemployment office

Unemployment claims rise by 20,000

According to the U.S. Department of Labor, unemployment took a hit in the week ending February 16th, as the advance figure for seasonally adjusted initial claims was 362,000, an increase of 20,000 from the previous week’s revised figure. The four week moving average was 360,750, up 8,000 from the previous week’s revised average of 352,750.

The advance seasonally adjusted insured unemployment rate was 2.4 percent for the week ending February 9, rising 11,000 from the previous week, hitting 3,148,000 as the four week moving average sat at 3,186,250. States reported 1,849,056 persons claiming EUC (Emergency Unemployment Compensation) benefits for the week ending February 2.

The highest insured unemployment rates in the week ending February 2 were in Alaska (6.4 percent), Puerto Rico (4.5 percent), Montana (4.4 percent), Pennsylvania (4.3 percent), New Jersey (4.2 percent), Wisconsin (4.1 percent), Idaho (4.0 percent), Connecticut (3.9 percent), Rhode Island (3.9 percent), and Oregon (3.8 percent).

The largest increases in initial claims for the week ending February 9 were in Kansas (+2,344), Puerto Rico (+492), Virginia (+465), Indiana (+205), and Rhode Island (+176), while the largest decreases were in California (-4,830), New York (-4,401), Oregon (-2,211), Pennsylvania (-2,020), and Wisconsin (-1,670).

Unemployment levels are still bad, but there’s hope

Economists at the National Association of Realtors weighed in, observed that there is “not much to read into the” 20,000 unemployment claims, “since the uptick is within the range of the usual weekly variation of about 18,000 claims. The data is also preliminary and subject to revisions, generally upward, the following week.”

Advertisement. Scroll to continue reading.

The trade group says despite the uptick, the overall trend is still toward a lower level of claims and the four week moving average, which is a less volatile metric, is improving, albeit modestly.

“So the job market is still improving, although at a slow pace,” the association’s economists opine. “Even with sequestration, NAR projects 1.4 million non-farm net new jobs in 2013.”

unemployment claims

Above: 4-week moving average of weekly claims since January 2000, chart by

Written By

Marti Trewe reports on business and technology news, chasing his passion for helping entrepreneurs and small businesses to stay well informed in the fast paced 140-character world. Marti rarely sleeps and thrives on reader news tips, especially about startups and big moves in leadership.

1 Comment

Leave a Reply

Your email address will not be published. Required fields are marked *


American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.



Business News

We all know and love the company NASA for their space exploration efforts, but how much of an economic impact do they have? Turns...

Business News

Will Bed Bath & Beyond be the latest victim of this economy, or do they just have perpetual problems with their business model?

Business Finance

Another large spike in the consumer price index isn't good news for the economy, and the context of the data is more complicated this...

Business News

Unemployment improved more dramatically than expected, potentially throwing a wrench into the Fed's rate hike plan.


The American Genius is a strong news voice in the entrepreneur and tech world, offering meaningful, concise insight into emerging technologies, the digital economy, best practices, and a shifting business culture. We refuse to publish fluff, and our readers rely on us for inspiring action. Copyright © 2005-2022, The American Genius, LLC.