Overall, the past year has been extremely positive for employers, especially in relation to unemployment claims. There have been continuous upward trends in this area, with fewer people receiving benefits and a lower national jobless rate.

However, recent data from the U.S. Department of Labor indicated that initial claims have actually reversed course and ticked up once more. For the week ending Sept. 6, the advance figure for seasonally adjusted initial claims rose by 11,000 to a total of 315,000. The four-week moving average also increased, up 750 to a total of 304,000 compared to the previous seven-day period.

The DOL also reported that the advance seasonally adjusted insured unemployment rate stayed the same on a weekly basis, still at 1.9 percent. In total, more than 2.3 million people were claiming benefits for the week ending Aug. 23. At the same time last year, that number was roughly 4.2 million. The states with the highest insured unemployment rates were New Jersey at 3.3 percent, Connecticut at 3 percent and Alaska at 2.9 percent.

In addition, the largest increases in initial claims at the end of August were in California, New York, Iowa and Wisconsin. The largest decreases were in New Jersey, Illinois and Georgia.

Labor turnover holds steady on monthly basis
The rate that employees quit, are discharged or laid off directly impacts unemployment insurance. According to the U.S. Bureau of Labor Statistics, labor turnover has held steady on a monthly basis this summer.

For example, there were only 4.6 million separations in July, roughly the same with June’s level. Quits changed little from June to July as well, at 2.5 million for the latter month. Layoffs and discharges were at 1.7 million for that 31-day period.

While labor turnover is a fact of life, offsetting any trends with strong hiring patterns will help the country continue employment growth. The BLS explained that for the 12 months ending July 2014, hires reached 56 million, roughly 2.5 million greater than separations. That is a net gain in employment, a positive sign for the U.S. economy.

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.
Contact our Sales Team
(800) 207-6926

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