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Manufacturing & The Economy

Jobless Claims Drop to 330,000, a Five-Year Low

In the week ending January 19, the advance figure for seasonally adjusted initial claims was 330,000, a decrease of 5,000 from the previous week's unrevised figure of 335,000. The 4-week moving average was 351,750, a decrease of 8,250 from the previous week's revised average of 360,000.

The advance unadjusted insured unemployment rate was 2.9% during the week ending January 12, a decrease of 0.1% from the prior week's unrevised rate. The advance unadjusted number for persons claiming UI benefits in state programs totaled 3,690,615, a decrease of 177,080 from the preceding week. A year earlier, the rate was 3.2% and the volume was 4,069,651.

The total number of people claiming benefits in all programs for the week ending January 5 was 5,659,760, a decrease of 214,076 from the previous week. There were 7,670,108 persons claiming benefits in all programs in the comparable week in 2012.

The largest increases in initial claims for the week ending January 12 were in Texas (+12,786), California (+10,232), Florida (+7,314), Indiana (+4,266), and New Jersey (+3,570), while the largest decreases were in New York (-27,487), Georgia (-7,520), North Carolina (-5,541), Alabama (-4,245), and Wisconsin (-3,183).

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