Skip to content

Blue Christmas: Jobless claims rise to their highest levels in nine months

By Catholic Online (NEWS CONSORTIUM)
12/20/2013 (4 years ago)
Catholic Online (

Data difficult to adjust for seasonal fluctuations around the Thanksgiving and Christmas holidays

It's going to be a blue, blue Christmas for many Americans this year. Claims for unemployment insurance reached their highest in nine months last week. The grim news casts a dark shadow across the U.S. job market,which had previously enjoyed growth spurts over the past several weeks.

Claims increased 53,000 between the November and December survey periods. However, seasonal volatility reduces their usefulness in trying to predict payroll growth.

Claims increased 53,000 between the November and December survey periods. However, seasonal volatility reduces their usefulness in trying to predict payroll growth.


By Catholic Online (NEWS CONSORTIUM)
Catholic Online (
12/20/2013 (4 years ago)

Published in Business & Economics

Keywords: Jobless claims, holidays, unemployment, fluctuations

LOS ANGELES, CA (Catholic Online) - The Labor Department says that initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 379,000 this week. It was the highest level since March and marked the second straight week that claims have risen.

Economists had originally expected first-time applications to fall to 334,000 last week. The four-week moving average for new claims, which irons out week-to-week volatility, increased 13,250 to 343,500.

"This is not really good. Some of us had thought last week's jump was an aberration. We have to see what's going on here. Obviously the Fed won't be looking at these numbers kindly after what happened yesterday," Joel Naroff, president of Naroff Economic Advisors in Holland, Pennsylvania says.

The risks to the outlook for the economy coupled with the labor market as "having become more nearly balanced," the Federal Reserve said this week. The U.S. central bank announced it would reduce its monthly $85 billion bond buying program by $10 billion beginning next month.

The bureau admits that it's hard to adjust for seasonal fluctuations around the Thanksgiving and Christmas holidays, which lessens its reliability as an indicator of the labor market's health. Other labor market indicators have pointed to a strengthening in job growth. 

Last week's claims data covered the period for the December non-farm payrolls survey. Claims increased 53,000 between the November and December survey periods. However, seasonal volatility reduces their usefulness in trying to predict payroll growth.

The economic news wasn't all bad, reflecting the roller coaster nature of the U.S. economy. Payrolls increased solidly in October and November. The unemployment rate dropped to a five-year low of 7.0 percent in November.


'Help Give every Student and Teacher FREE resources for a world-class Moral Catholic Education'

Copyright 2018 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for FEBRUARY 2018
Say 'No' to Corruption.
That those who have material, political or spiritual power may resist any lure of corruption.


More Business & Economics

Stock market tumbles, is a recession on the way? Watch

Image of The stock market took a tumble yesterday but may recover today. Nobody is certain of what's next.

Global markets have dropped for the past few days, and just this morning have rebounded. It remains to be seen if the recovery is ... continue reading

Is free money a Christian solution to economic problems? Watch

Image of Is there a Christian solution to our economic problems?

The world is richer and more productive than ever before in history. Yet, income inequality is growing the poverty is on the rise. Middle ... continue reading

Income inequality - Here's why world poverty and hunger remain a problem, frustrating Pope Francis' efforts to solve the crisis Watch

Image of Pope Francis has spearheaded a campaign to end world hunger by 2020.

When Pope Francis accepted the chair of St. Peter, he pledged to end world hunger by 2020. By all appearances, it was an easy win. The math ... continue reading

Jobless claims historic low! - Why workers are getting raises this year, thanks to President Trump Watch

Image of Workers are finally being dealt back into the American Dream, thanks in part to President Trump's economic policies.

Say what you will about President Trump, but American workers are starting to "win" under his administration. Jobless claims have reached a ... continue reading

Retailers are feeling great again, but how about all those tired workers? Watch

Image of Amazon workers are being replaced by robots, but they aren't being laid off either. The growth of online retail means they can fill other roles, as the workload increases.

Early reports from the retail sector show that sales between November 1 and Christmas Eve were up 4.9 percent over last year. Workers ... continue reading

Never Miss any Updates!

Stay up to date with the latest news, information, and special offers.

Learn about Catholic world

Catholic Online
Inform - Inspire - Ignite

Catholic Online Saints
Your saints explained

Catholic Online Prayers
Prayers for every need

Catholic Online Bible
Complete bible online

Catholic Online News
Your news Catholic eye

Daily Reading
Today's bible reading

Lent / Easter
Death & resurrection of Jesus

Advent / Christmas
Birth of Jesus

Rest of Catholic Online
All Catholic world we offer

Products and services we offer

Catholic Online Shopping
Catholic medals, gifts & books

The California Network
Inspiring streaming service

Advertise on Catholic Online
Your ads on

Catholic Online Email
Email with Catholic feel

Catholic Online Singles
Safe, secure Catholic dating

The California Studios
World-class post production service

Learn the Catholic way

Catholic Online School
Free Catholic education for all

Student Classes
K-12 & Adult Education Classes

School Teachers
Teacher lesson plans & resources

Support Free Education
Tax deductible support Free education

Connect with us online

Catholic Online on Facebook
Catholic social network

Catholic Online on Twitter
Catholic Tweets

Catholic Online on YouTube
Enjoy our videos

Catholic Online on Instagram
Shared Catholic moments

Catholic Online on Pinterest
Catholic ideas style inspiration

Catholic Online Logo

Copyright 2018 Catholic Online. All materials contained on this site, whether written, audible or visual are the exclusive property of Catholic Online and are protected under U.S. and International copyright laws, © Copyright 2018 Catholic Online. Any unauthorized use, without prior written consent of Catholic Online is strictly forbidden and prohibited.