For the week ending November 5th, new applications for unemployment benefits fell to their lowest level since April. The drop in new claims was the third weekly decline in the last four weeks. According to data released November 10th by the United States Department of Labor, new claims for unemployment insurance benefits fell by 10,000 to a seasonally adjusted total of 390.000. The four week moving average, which is considered to be a less volatile measure than any single week, fell by 5,250 to 400,000. This number is also at it’s lowest level since April, 2011.
The drop in new claims is one indication fewer workers are losing their jobs. However, new claims would need to remain below 375,000 consistently to be considered a sign of sustainable job growth. Claims have not been at that level since February, 2011.
The hiring outlook in recent months has been mixed. 104,000 non farm jobs were added in October. However, a loss of 24,000 government jobs led to a net gain of only 80,000 new jobs, the lowest level in four months. However, the Department of Labor also reported last week that more jobs had been added in August and September than initially reported. The unemployment rate dropped to 9.0 percent, it’s lowest level in six months.
Another positive sign for future hiring is that more jobs were advertised in September than in any month in the previous three years. This is a positive sign for the months of November and December since employers typically take anywhere from one to three months to fill open positions.
In addition, the number of long term unemployed, defined as those job seekers out of work for twenty seven weeks or longer, dropped by 366,000 in October. This represents the largest single month drop since 1948.
Unemployment Insurance Weekly Claims Report for Week Ending November 5, 2011
Mass Layoffs Monthly News Release
Employment Situation News Release for October, 2011
Regional and State Employment and Unemployment for September, 2011
Usual Weekly Earnings of Wage and Salary Workers – Third Quarter 2011
Metropolitan Area Employment and Unemployment – September, 2011
Unemployment Rate – Lowest Level in Six Months
Tier-specific EUC data
Information on the EB program
State Detail Prior Week
UI Claims Series 1967 to Current
Unemployment Rates for States
Career One Stop State Locator
The Arizona Unemployment Insurance Program
Disaster Unemployment Assistance (Special programs in locations declared by the President as disaster areas.)
Legislative and AZUI Contact Information For Arizona Residents and UI Recipients
Veterans Services in Arizona
Disabled Workers Services in Arizona
Mature Workers Services in Arizona
Youth Services in Arizona
Job Seekers Assistance in Arizona
Who Is Counted as Unemployed?
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