Initial unemployment insurance claims and the national jobless rate have remained relatively low in late October, a good sign for employers across the country.

According to the U.S. Department of Labor, the advance figure for seasonally adjusted initial claims rose by only 3,000 for the week ending Oct. 25, now at a total of 287,000. The four-week moving average, on the other hand, dropped by 250 claims to 281,000. These totals are close to recent lows, an indication that the current unemployment environment could be favorable to both employers and the jobless.

Overall, the DOL reported that there were more than 2 million people claiming benefits for the week ending Oct. 11 across all programs in the country. That is down slightly compared to the previous seven-day period, and well below the the nearly 3.9 million claimants at the same time in 2013. On a state-by-state basis, the highest insured unemployment rate was found in Alaska, followed by New Jersey and Connecticut. The largest uptick in claims during mid-October were in California, Michigan and Tennessee.

Cities see jobless rates decline
Even with the slight increase, unemployment claims remain low enough to avoid placing a burden on employers across the country. In relation, jobless rates are also down in favorable territory, with many of the major metropolitan cities in the U.S. experiencing declines.

According to the Bureau of Labor Statistics, rates dropped in 339 of the 372 metro areas in September. Only six cities had rates at or above 10 percent, while 118 saw rates stay below 5 percent. The highest jobless rates were found in Yuma, Arizona and El Centro, California – both above 20 percent for the month. On the other end of the spectrum, Bismarck, North Dakota and Fargo, North Dakota-Minnesota had the lowest, at 2.1 percent and 2.3 percent, respectively.

Overall, these employment sector trends are headed in the right direction. Lower claims are a plus for all employers, since more insured unemployed will increase costs and call on each state’s trust fund to cover benefits. Too many claimants, and taxes can rise for businesses.

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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