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Thursday, November 15, 2012

Jobless Claims Surge By 78,000 A Week After Election- Ohio, Pennsylvania Sees Biggest Rise

By Susan Duclos

The United States Department of Labor, Employment and Training Administration (ETA) issued it's press release today which showed a surge of 78,000 jobless claims for the week ending week ending November 10, 2012:

In the week ending November 10, the advance figure for seasonally adjusted initial claims was 439,000, an increase of 78,000 from the previous week's revised figure of 361,000.

Farther down in the press release it shows the areas hardest hit by the week ending November 3, 2012:

The largest increases in initial claims for the week ending November 3 were in Pennsylvania (+7,766), Ohio (+6,450), New Jersey (+5,675), Michigan (+2,373), and Connecticut (+1,783)


•  The highest insured unemployment rates in the week ending October 27 were in Alaska (4.5), Puerto Rico (3.9), California (3.0), Oregon (3.0), Pennsylvania (3.0), Virgin Islands (2.9), Arkansas (2.7), Nevada (2.7), New Jersey (2.7), Illinois (2.6), New York (2.6), and North Carolina (2.6)

Via BG:

Some of the new claims, especially in New Jersey, were due to Hurricane Sandy--but these were offset by a decline in claims filed in New York. The highest numbers of new filings came from Pennsylvania and Ohio, where there were thousands of layoffs in the construction, manufacturing, and automobile industries.
Both states had been targeted by the presidential campaigns. President Obama highlighted his record of job creation in Ohio in particular, focusing on the automobile industry. The state reported 6,450 new jobless claims in the week after the election--second-highest after Pennsylvania, which recorded 7,766 new claims.

 The new normal in Obama's economy.