The past several years have been positive so far for employers all across the country. Even since 2014 began, economic conditions have improved, unemployment claims have seen multiple decreases and job growth has provided an avenue for out-of-work Americans to get back into the labor force.

Recently, more good news has emerged, as job reports once again indicate that growth is widespread across the nation. However, unemployment claims also ticked up slightly, unfortunate but somewhat expected following the significant decline from the previous week-over-week period.

Initial claims tick up in late July
According to the Department of Labor, initial unemployment claims increased to 302,000 in the week ending July 26. That is 23,000 claims more than the previous seven-day period, but that past figure was down to 279,000 following a week of substantial declines.

Furthermore, the DOL noted that the four-week moving average of unemployment claims reached 297,250, down 3,500 on a weekly basis. This new level is the lowest reported since April 2006, another positive for the labor market. The seasonally adjusted unemployment rate remained at 1.9 percent, while the total number of people receiving benefits climbed to more than 2.6 million.

On a state-by-state basis, the largest unemployment claims increase was in Kansas, followed by Maine, Ohio and South Carolina. On the other hand, the largest decreases were in New York, Pennsylvania, California and Georgia.

Job growth surges in multiple sectors
According to the Bureau of Labor Statistics, more jobs are being created across the country, creating opportunities for out-of-work citizens to find employment.

The BLS’ Business Employment Dynamics report, which covers the fourth quarter of 2013, indicated that gross job gains reached 7.3 million during the period between September and December. That is nearly 300,000 more jobs than created during the previous quarter. The most gains were felt in companies with more than 250 employees. These firms made up 68 percent of the total job growth during the end of 2013.

Many states also experienced positive employment trends. The BLS noted that 47 states had more job gains than losses, led by California with a net improvement of more than 141,000 new employment opportunities. Texas clocked in in second place, with a net gain of more than 81,000.

Juggling tax rates and difficult employees can become challenging at your company. Here at Corporate Cost Control, we understand these problems and are well-positioned to help. Our extensive background in cost control and human resources will allow you to better manage your unemployment insurance expenses.


Contact CCC to see how we can save your organization time and money.
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(800) 207-6926

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