Jobless claims on the rise
Today鈥檚 jobless claims听showed a increases to both initial and continued jobless claims as seasonally adjusted initial claims remained over the 300K level.听
Seasonally adjusted 鈥渋nitial鈥� unemployment claims increased by 1,000 to 308,000 claims from 307,000 claims for the prior week while seasonally adjusted 鈥渃ontinued鈥� claims increased by a notable 104,000 claims to 2.925 million resulting in an 鈥渋nsured鈥� unemployment rate of 2.3%.
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Since the middle of 2008 though, two federal government sponsored 鈥渆xtended鈥� unemployment benefit programs (the 鈥渆xtended benefits鈥� and 鈥淓UC 2008鈥� from recent legislation) have been picking up claimants that have fallen off of the traditional unemployment benefits rolls.听
Currently there are some 1.47 million people receiving federal 鈥渆xtended鈥� unemployment benefits.
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Taken together with the latest 2.46 million people that are currently counted as receiving traditional continued unemployment benefits, there are 3.93 million people on state and federal unemployment rolls.听
