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:
|FL||-1,861||Fewer layoffs in the construction, trade, and service industries, and agriculture.|
|NC||-1,662||Fewer layoffs in the construction, trade, service, tobacco, and furniture industries.|
|MO||-1,618||Fewer layoffs in the construction, trade, and service industries.|
|GA||-1,053||Fewer 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:
|RI||+1,513||Layoffs in the service and manufacturing industries.|
|IL||+1,515||Layoffs in the construction, trade, and service industries.|
|CT||+1,601||Layoffs in the transportation and service industries.|
|OH||+1,700||Layoffs in the automobile industry.|
|PA||+2,306||Layoffs in the construction, service, and transportation industries.|
|MA||+4,027||Layoffs in the transportation and service industries.|
|NJ||+5,326||Layoffs in the transportation, warehousing, trade, service, and public administration industries.|