Tuesday, 28 March, 2017

KC area unemployment rose in January as metro-area job hunters increased

Dora Reynolds who is currently unemployed sits along a road downtown Initial jobless claims dip
Tracy Craig | 18 March, 2017, 01:35

Mack Clark, general manager for the Newnan Georgia Department of Labor, said jobs are available in Coweta.

The number of initial claims for unemployment insurance, a measure of new layoffs, rose by 5,801, or 151.7 percent, to 9.624.

That is the longest stretch since 1970, when the labor market was much smaller.

Decreases in new claims are typically an indication of an improving labor market as fewer individuals are losing jobs.

Two weeks ago claims had fallen to a 44-year low of 223,000.

USA initial jobless claims declined slightly to 241,000 in the week ending March 11th from 243,000 the previous week and the latest figure was very close to consensus forecasts of 240,000. Claims for the prior week were unrevised.

When compared to the unemployment rates from January a year ago 89 counties had decreased, while five increased, and six stayed the same.

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Clark said year-end hiring typically increases in the fourth quarter. In January 2016, the rate was also 7.1 percent.

North Carolina state unemployment rate was at 5.3 percent in January compared to 4.7 percent in December.

The rate rose as the number of jobs declined, while the number of new layoffs increased, according to the press release.

Worth added that the number of job openings has exceeded the number of hires in nine of the past ten months. The number of unemployed increased by 797 to 4,500, while the number of employed individuals increased by 387 to 58,856.

The unadjusted unemployment rates and job estimates for the labor market areas reflect seasonal fluctuations and therefore may show different levels and trends than the statewide seasonally adjusted estimates. Data on continuing claims are released with a one-week lag. (Karen Lentz/MEDILL) Continuing claims in IL were up 2,282 for the week ended February 25 from the previous week, but down by 6,980 from a year ago.

The jobless rate jumped 1.2 percent in January in Whitfield County to 6.9 percent and rose in Murray County by 1 percentage point to 7.8 percent.

The rate rose as the labor force grew and the number of new layoffs increased.

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