Macroeconomics

Insured Unemployment increased from 2,378,000 to 2,403,000 in December 2014.

There were no major changes in data from Unemployment Insurance during December 2014. Seasonally adjusted data showed that Insured Unemployment rate kept the same level for the week ending December 20th. Initial claims though went down roughly 9,000 for the same period. Average figure of Initial Claims for the month was 290,250, which represents a decrease of 8,500 from the previous 298,750 unrevised data. Insured Unemployment data refers to people continuously claiming Unemployment Benefits, whereas Initial Claims statistics refer to new people filing for benefits.
Total Insured Unemployment increased from 2,378,000 to 2,403,000 for the week ending December 13th. These numbers represent the total people claiming continuously unemployment benefits in the United States. Within this category of Insured civilians are former Federal employees which accounted for 16,828 people. These former Federal civilian employees were joined by a group of new claimants of roughly 1,331 former Federal employees. 1,752 recently discharged Veterans also filed claims, which represented a decrease of 266 from the second week of December 2014.

As of December 6th 2014, the highest Insured Unemployment Rates were in Alaska, 4.2%. It is worth noting that Alaska’s Unemployment rate for the same period was 6.8%. It is still above the Nation’s average. Puerto Rico’s Insured Unemployment Rate was 3.1% for the week ending December 13th of 2014. New Jersey, where the Unemployment Rate for November 2014 was 6.4%, registered 3.1% of Insured Unemployment Rate. Montana’s Insured Unemployment Rate was 2.7%, and Unemployment Rate of 4.3%. Pennsylvania 2.7% for Insured Unemployment Rate, whereas Connecticut reported 2.6% of the same rate. California 2.5% of Insured Unemployment rate. Massachusetts reported 2.4% of Insured Unemployment and its Unemployment Rate is expected to be at 5.8% for December 2014. And, West Virginia’s Insured Unemployment Rate was 2.4%.

Unemployment Insurance Dec 2014
Largest increase in Initial Claims were the following:
California: 11,794
Massachusetts: 443
Utah: 277
Rhode Island: 35
Main: 25

Largest decrease in Initial Claims were in Pennsylvania which totaled 10,937 claimants less; New York with 9,787 less claimants; Wisconsin totaled 6,465 less people initially claiming; Georgia with 5,520 less; and Texas with 3,982 less claims for the week ending December 13th of 2014.
Data source: U.S. Department of Labor. Division of Employment and training Administration.

Leave a Reply