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Initial Unemployment Claims Worse Than Expected

May 5, 2011 by Joshua Wright

There was not-so-good news this morning with the release of national initial unemployment claims, which totaled 474,000 in the week ending April 30. The national number is not good — we’re back to levels we saw at the beginning of the year. From zerohedge.com:

Cardiff Garcia at FT Alphaville has the best wrap-up of the release — make sure to read it in full.

The state-level breakdowns claims filed during the the week ending April 23 were also released. Of particular note, New Jersey received 5,326 new unemployment insurance claims in just one week.

Here are the biggest gains and losses by state:

StateChangeState-Supplied Comment
FL-1,861Fewer layoffs in the construction, trade, and service industries, and agriculture.
NC-1,662Fewer layoffs in the construction, trade, service, tobacco, and furniture industries.
MO-1,618Fewer layoffs in the construction, trade, and service industries.
NM-1,417No comment.
AZ-1,138No comment.
GA-1,053Fewer layoffs in the construction, trade, service, and manufacturing industries.

Remember that weekly claims are NOT seasonally adjusted and seasonal jobs like agriculture and construction are picking up again in the southern parts of the US. To the North (particularly the Northeast), it’s not looking as good:

StateChangeState-Supplied Comment
KY+1,031No comment.
MD+1,358No comment.
RI+1,513Layoffs in the service and manufacturing industries.
IL+1,515Layoffs in the construction, trade, and service industries.
CT+1,601Layoffs in the transportation and service industries.
OH+1,700Layoffs in the automobile industry.
PA+2,306Layoffs in the construction, service, and transportation industries.
MA+4,027Layoffs in the transportation and service industries.
NJ+5,326Layoffs in the transportation, warehousing, trade, service, and public administration industries.

Joshua Wright

Reach out at jwright@economicmodeling.com

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