{"id":17900,"date":"2015-10-08T13:55:14","date_gmt":"2015-10-08T18:55:14","guid":{"rendered":"http:\/\/news.medill.northwestern.edu\/chicago\/?p=17900"},"modified":"2015-10-13T14:04:14","modified_gmt":"2015-10-13T19:04:14","slug":"labor-department-reports-lowest-jobless-claims-since-mid-july","status":"publish","type":"post","link":"https:\/\/news.medill.northwestern.edu\/chicago\/labor-department-reports-lowest-jobless-claims-since-mid-july\/","title":{"rendered":"Labor department reports lowest jobless claims since mid-July"},"content":{"rendered":"

By Antea Gatalica<\/p>\n

Initial jobless claims fell to 263,000, a decrease of 13,000, in the week ended Oct. 3, the U.S. Department of Labor reported Thursday.<\/p>\n

The 4-week moving average in the week ended Oct. 3 stood at 267,500, a 1.1 percent change decrease from the week prior. The number of people continuing to receive unemployment benefits rose to 2.2 million in the week ended Sept. 26. The unemployment rate among people eligible for benefits was 1.6 percent.<\/p>\n

<\/p>\n

The numbers reported are some of the lowest since mid-July, but David Nice<\/a>, Economist and Vice President at Mesirow Financial, said given the low employment numbers reported in August and September, global uncertainty has caused employers to hesitate on hiring.<\/p>\n

\u201cThe main driver of uncertainty is China. It\u2019s the second largest economy and a lot of companies, their profits are now driven by emerging markets. If there is any sense that China is weaker than what they are reporting, that would be something to look out for,\u201d Nice said.<\/p>\n

[field name=”labornumbers2015″]<\/p>\n

Looking at overall initial claims, economist David Nice said these numbers are the lowest in the series. “They’ve been declining since the recovery, and they’re near historic lows.” (U.S. Department of Labor<\/a>, Antea Gatalica\/Medill)<\/div>\n

 
\nCalifornia and Pennsylvania showed the largest increase in jobless claims filed in the week ended Oct. 3; however, Michigan had the biggest decrease in jobless claims during this time, an improvement from the week prior, as the state\u2019s manufacturing industry faces challenges.<\/p>\n

In a post released on Mesirow Financial\u2019s website<\/a> on Oct. 2, Diane Swonk, Senior Managing Director and Chief Economist, said despite manufacturing\u2019s decline, motor vehicles and parts had near-record sales.<\/p>\n

\u201cIt is worth noting, however, that dealers were almost giving away vehicles\u2026 Sales are likely to dissipate once incentives are scaled back,\u201d Swonk said.<\/p>\n

While newly discharged veterans saw a decrease in claims, a 6.6 percent change from the week ending Sept. 19 to Sept. 26, federal employees had an increase over this time, nearly a 9 percent change.<\/p>\n

Photo at top: Numbers reported are some of the lowest since mid-July, but global uncertainty has caused employers to hesitate on hiring. (TaxCredits.net<\/a>\/Creative Commons<\/a>)<\/div>\n","protected":false},"excerpt":{"rendered":"

By Antea Gatalica Initial jobless claims fell to 263,000, a decrease of 13,000, in the week ended Oct. 3, the U.S. Department of Labor reported Thursday. The 4-week moving average in the week ended Oct. 3 stood at 267,500, a 1.1 percent change decrease from the week prior. The number of people continuing to receive […]<\/p>\n","protected":false},"author":166,"featured_media":17903,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,509],"tags":[192],"class_list":["post-17900","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-fall-2015","tag-promo"],"yoast_head":"\nLabor department reports lowest jobless claims since mid-July - Medill Reports Chicago<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/news.medill.northwestern.edu\/chicago\/labor-department-reports-lowest-jobless-claims-since-mid-july\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Labor department reports lowest jobless claims since mid-July - Medill Reports Chicago\" \/>\n<meta property=\"og:description\" content=\"By Antea Gatalica Initial jobless claims fell to 263,000, a decrease of 13,000, in the week ended Oct. 3, the U.S. Department of Labor reported Thursday. 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