Thursday, October 17, 2013

It's The Economy Stupid: Jobless Claims

Well now, finally some economic news to talk about.


Initial jobless claims in the US fell slightly to 358k for the week ending October 12, slightly higher than economists consensus (335k) were expecting.  This came after an unexpected 373k print the prior week that was due in part to the continued processing of a backlog of claims in California after a computer system upgrade.  During the week ending October 5, claims in California rose by almost 34k.  In addition, this print reflected claimants who were not employed by the federal government (those employees are not included in the headline initial claims number) but were affected by the government shutdown, such as private contractors.  These issues have resulted in volatile numbers dating back to the start of September, and it is not clear how much longer these issues will persist. Continuing claims fell 43k for the week ending October 5 to 2,859k as the insured unemployment rate held steady at 2.2%. 


Economic Event


Economic Survey

Actual Reported

Original Prior

Revised Prior

Initial Jobless Claims

Oct 12





Continuing Claims

Oct 5







John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury



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