Initial Claims Jump Worse than Expected

Todays initial claims number was much worse than forecasted.  The forecasted number 478k and the number this week came in at 500k.  Remember initial claims are the number of people who filed for unemployment for the first time last week.  The previous numbers were 488k, forecasters must have believed the hype that things were getting better with the forecast of 478k.  The chart on the bottom of the blog has been updated and here it is for your convenience.

According to BLS here are the states with an increase of more than 1,000

TX +1,071 Layoffs in the service and manufacturing industries.

IL +1,150 Layoffs in the construction, trade, and manufacturing industries.

FL +1,199 Layoffs in the construction, trade, service, and manufacturing industries.

OR +1,268 No comment.

MI +1,347 No comment.

GA +1,458 Layoffs in the construction, trade, service, and manufacturing industries.

PA +1,626 Layoffs in the transportation, industrial machinery, construction, and service industries.

NC +1,895 Layoffs in the construction, service, industrial machinery, computer equipment, electrical      equipment, electronic equipment, and textile industries.

IN +1,999 Layoffs in the automobile and manufacturing industries.

CA +4,393 Layoffs in the service industry.