Unemployment Claim Filings Reduced by 38,000

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[Best Syndication News] The number of unemployment benefits were reduced by 38,000 people last week. There was 550,000 filings for unemployment benefits claims for the week ending of August 1st, according to the Labor Departments jobless benefit report.

New claims filings are showing a trend to be less. The new claim filings showed 4,750 less new claims for the four-week moving average in the same report. The moving average has declined for six consecutive weeks.

Those collecting long term unemployment benefits rose by 69,000, with 6.31 million people receiving financial assistance.

The highest rates for insured unemployment rates for the week ending of July 18th were Puerto Rico (8.0 percent), Michigan (6.7), Oregon (6.5), Pennsylvania (6.5), Nevada (6.1), Wisconsin (5.7), Connecticut (5.5), New Jersey (5.5), California (5.4), Rhode Island (5.3), and South Carolina (5.3).

The largest increase of claims for the week ending on July 25 were found in Ohio (+891), Oklahoma (+644), Mississippi (+222), Louisiana (+154), and Alaska (+129), while the largest decreases were in North Carolina (-9,809), Michigan (-9,085), Florida (-8,714), Georgia (-6,948), and Alabama (-3,822)

Economists at Bloomberg news predict that another report will come out showing that the jobless rate had reached the highest numbers in 26 years for the month of July.

By: Marlene Donor

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