Unemployment insurance data from the U.S. Department of Labor released last week painted a less-than-favorable picture – claims were on the way up, with more Americans receiving benefits than before.

However, that trend has been snapped after only one seven-day period. Recent data from the DOL indicated that unemployment claims were headed back down, with a significant decrease reported of 36,000 on a weekly basis. For the week ending Sept. 13, the advance figure for seasonally adjusted initial claims was only 280,000, compared to the revised figure of 316,000. The four-week moving average ticked down as well, now at 299,500 instead of 304,250.

The DOL explained that no special factors contributed to this substantial decrease. The advance seasonally adjusted insured unemployment rate also dropped for the week ending Sept. 6, now at just 1.8 percent. The number of unemployed Americans with insurance benefits slipped by 63,000 to a total of slightly more than 2.4 million during the same time period.

The states with the greatest surges in initial unemployment claims were New Jersey, Illinois and Nebraska. The highest insured jobless rates were found in New Jersey, Alaska and Connecticut, at 3.3 percent, 3 percent and 2.7 percent, respectively.

Employee earnings climb in August
While the drop in unemployment claims is good news, it isn’t the only positive economic trend to emerge over the past few months. According to the Bureau of Labor Statistics, workers’ real average hourly earnings increased slightly from July to August, a possible sign that financial conditions across the country are improving.

The BLS reported that real average hourly earnings ticked up 0.4 percent on a monthly basis in August. This is also the most significant rise since November 2012. The surge in this metric from August 2013 to August 2014 was also 0.4 percent. When looking at production and nonsupervisory employees only, real average hourly earnings increased 0.6 percent from July to August. For this segment, the uptick was 0.9 percent on a yearly basis.

Overall, these changes, coupled with fewer unemployment claims, are an indication of more favorable conditions for employers. Ideally, the positive trends will continue for some time to come.

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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