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Thursday, June 16, 2016

California and Pennsylvania lead US jobless claims higher week ending June 11, 2016, +13,000-Marketwatch

6/16/16, "Jobless claims climb to 277,000 as California filings surge," Marketwatch, Jeffry Bartash

"Initial U.S. jobless claims rose by 13,000 to 277,000 in mid-June, but the increase is likely tied to seasonal quirks that could unwind in the next few weeks. Broadly, layoffs nationwide remain low.

The number of new applications for benefits during the week stretching from June 5 to June 11 was little changed in most states except for California and Pennsylvania, the government reported Thursday.

Unadjusted claims soared by 55% to 54,805 in the Golden State, an unusually large increase. A similarly outsized gain occurred in Pennsylvania.

In some states, certain school employees such as bus drivers or cafeteria can file for benefits when the school year ends. Some workers who could have filed claims at the end of May, what’s more, may have waited because of the Memorial Day holiday to apply in the following week.

Whatever the case, new claims remained below the key 300,000 mark for the 67th straight week, the longest streak since 1973.

Even though hiring has slowed, job openings in the U.S. remain near at a record high and many companies complain they can’t find enough skilled workers. That’s forced some firms to raise wages....

Continuing jobless claims increased by 45,000 to 2.16 million in the week ended June 4. These claims, reported with a one-week delay, reflect people already receiving unemployment checks."


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