Initial Jobless Claims Data Goes Up to 312,000 from 304,000

Today, on June 5, the U.S. Department of Labor has released its weekly unemployment insurance claims data. In this way, for the last week, the figure for seasonally adjusted initial claims, amounted to 312,000, which represents an increase of 8,000 from the week before. The revised level for the previous week amounted to 304,000, from 300,000.

In a recent report on CNBC, Rick Santelli presented this data and stated that the numbers are not at all surprising. According to the Department of Labor, the advance number for seasonally adjusted insured unemployment for the week ended May 25 amounted to around 2.60 million, down by 20,000, from the previous week revised level.

“This is the lowest level for insured unemployment since October 27, 2007 when it was 2,587,000,” the Department of Labor said in a statement.

Rick Santelli commented:

“We are seeing what happens. It’s kind of the North Carolina effect on the federal side. We see the unemployment rate moving down for all the wrong reasons. The jobless claims issue is eventually the benefits play into a dynamic I can’t quite handicap yet.”

At the same time, the total number of people claiming benefits for the week ending May 17, amounted to over 2.51 million, which represents a decrease of some 40,300 from the previous week. In comparison, for the same week in 2013, the number of people claiming benefits was much higher, of almost 4.64 million.

The Department of Labor also stated that the highest insured unemployment rates for the week ending May 17 were in Alaska and Puerto Rico, amounting to 4.3 and 3.0 respectively. They are trailed by California and New Jersey, each having unemployment rates of 2.9.

In addition, the highest increases in initial claims for the week ending May 24 were in New York, and Ohio, which posted increases of around 1,300 and 970 respectively. The largest decreases have been posted by Michigan and Kansas of 6,700 and 2,100 respectively.

Watch the full CNBC report below:

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!