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Graph showing four-week moving average of first-time unemployment claims.
Click for a larger image.
First-time unemployment claims seem to be settling back to normal (that's normal, 2012-style) after weeks of jumping around wildly due to the effects of Hurricane Sandy. Seasonally adjusted claims fell to 370,000, a drop of 25,000 from the previous week's revised figure of 395,000, the Department of Labor announced Thursday. The four-week moving average, which smooths volatility, rose by 2,250 to 408,000.

The hurricane had caused unemployment claims to drop, as people were unable to file in the immediate aftermath of the storm, then rise, as its economic impact was felt. The 370,000 claims being reported for last week fall within the 360,000 to 380,000 range that has held for most of 2012. But the storm's effects are fading just as another source of volatility kicks in:

A Labor Department analyst said the weekly numbers around this time of year are hard to read into because non-seasonally adjusted data are particularly volatile as the year ends and industries like construction and agriculture have planned layoffs.
The monthly employment report comes out Friday morning; Hurricane Sandy is expected to have minimized jobs gains in November.

Originally posted to Daily Kos Labor on Thu Dec 06, 2012 at 06:04 AM PST.

Also republished by Daily Kos.

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Comment Preferences

  •  So nice to have the anti-job killing GOP on the (0+ / 0-)

    case.

  •  Still dreadfully high, especially when you (3+ / 0-)
    Recommended by:
    judyms9, winsock, guardianrider

    consider the stagnant new job creation and the persistence of long-term unemployment and underemployment.

    And those numbers barely touch the true misery -- small businesses (no, not the hundred million dollar kind, but the local plumber, HVAC guy, restaurant, etc) that are hanging on, getting deeper on their credit lines or failing to pay vendors.

    There could be a serious ratchet effect if things don't pick up for real, as opposed to in selected numbers.

    LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

    by dinotrac on Thu Dec 06, 2012 at 06:42:36 AM PST

  •  The shadow economy of cash and barter is (0+ / 0-)

    doing okay in these parts.  Everyone should always have a side hustle, something he can turn to at times like this, a special skill to sell, items to make, or a carefully developed network of customers to whom stuff can be sold.  People who are succeeding in this way may not return their activity to "the books" even after the economy picks up.  There are few ways to track this activity, but it's happening.

    Building a better America with activism, cooperation, ingenuity and snacks.

    by judyms9 on Thu Dec 06, 2012 at 06:53:41 AM PST

    •  People do what they have to survive. (1+ / 0-)
      Recommended by:
      judyms9

      It's pretty open knowledge that you can get some deals -- really good ones -- for cash and/or trade goods.

      By cash, btw, I mean cash, not a check for the full amount.

      Some of us would be really suffering if not for flea markets, service trading, etc.

      LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

      by dinotrac on Thu Dec 06, 2012 at 06:58:26 AM PST

      [ Parent ]

  •  New unemployment rate (0+ / 0-)

    comes out tomorrow morning? Does this data give any hint as to what the numer will be?

    It's not easy being a Floridian: PS I'm a lawYER now; no longer a lawSTUDENT.

    by lawstudent922 on Thu Dec 06, 2012 at 07:01:17 AM PST

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