UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

<strong>UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT



SEASONALLY ADJUSTED DATA</strong>



In the week ending Feb. 28, the advance figure for seasonally adjusted initial claims was 639,000, a decrease of 31,000 from the previous week's revised figure of 670,000. The 4-week moving average was 641,750, an increase of 2,000 from the previous week's revised average of 639,750.



The advance seasonally adjusted insured unemployment rate was 3.8 percent for the week ending Feb. 21, unchanged from the prior week's unrevised rate of 3.8 percent.



The advance number for seasonally adjusted insured unemployment during the week ending Feb. 21 was 5,106,000, a decrease of 14,000 from the preceding week's revised level of 5,120,000. The 4-week moving average was 5,011,000, an increase of 76,750 from the preceding week's revised average of 4,934,250.



The fiscal year-to-date average for seasonally adjusted insured unemployment for all programs is 4.501 million.



<strong>UNADJUSTED DATA</strong>



The advance number of actual initial claims under state programs, unadjusted, totaled 640,601 in the week ending Feb. 28, an increase of 34,933 from the previous week. There were 345,165 initial claims in the comparable week in 2008.



The advance unadjusted insured unemployment rate was 4.6 percent during the week ending Feb. 21, unchanged from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 6,209,294, an increase of 100,896 from the preceding week. A year earlier, the rate was 2.5 percent and the volume was 3,380,987.



Extended benefits were available in Alaska, Idaho, Michigan, North Carolina, Oregon, Puerto Rico, and Rhode Island during the week ending Feb. 14.



Initial claims for UI benefits by former Federal civilian employees totaled 1,141 in the week ending Feb. 21, a decrease of 103 from the prior week. There were 1,738 initial claims by newly discharged veterans, a decrease of 203 from the preceding week.



There were 20,002 former Federal civilian employees claiming UI benefits for the week ending Feb. 14, an increase of 443 from the previous week. Newly discharged veterans claiming benefits totaled 27,909, a decrease of 220 from the prior week.



States reported 1,432,919 persons claiming EUC (Emergency Unemployment Compensation) benefits for the week ending Feb. 14, an increase of 39,085 from the prior week.



The highest insured unemployment rates in the week ending Feb. 14 were in Michigan (8.2 percent), Oregon (7.3), Idaho (7.1), Pennsylvania (6.7), Wisconsin (6.5), Rhode Island (6.2), Alaska (6.0), Nevada (6.0), Montana (5.8), and Puerto Rico (5.8).



The largest increases in initial claims for the week ending Feb. 21 were in Illinois (+3,791), Massachusetts (+3,438), Missouri (+3,027), Ohio (+2,731), and California (+2,677), while the largest decreases were in Florida (-3,586), Virginia (-3,490), New York (-3,420), Michigan (-3,373), and New Jersey (-2,266).
 
<em><strong>Orange County loses 33,000 jobs over the month, 64,600 jobs over the year</strong>



NOTE: Labor Force and Industry data contained in this release differ from previous

information due to the U.S. Department of Labor?s annual revision process.



The unemployment rate in the Orange County was 7.5 percent in January 2009, up from a

revised 6.6 percent in December 2008, and above the year-ago estimate of 4.4 percent. This

compares with an unadjusted unemployment rate of 10.6 percent for California and 8.5 percent

for the nation during the same period.



Between December 2008 and January 2009, total nonfarm wage and salary employment

declined from 1,463,400 to 1,430,400, a loss of 33,000 jobs.



? Trade, transportation, and utilities posted the largest month over decline with the loss of

7,400 jobs. The retail sector accounted for 82 percent of the decrease as stores began

expected job cutbacks following the holiday shopping season.

? Professional and business services reported an overall loss of 6,100 jobs, with nearly 74

percent of the decline in administrative and support and waste services, which includes

temporary help firms.

? Construction declined by 3,800 jobs with 82 percent of the losses in the specialty trade

contractors sector, in part due to rainy weather. Leisure and hospitality declined by 3,700

jobs, in part due to seasonal layoffs following the holiday season.

? All other major industries reported payroll employment declines over the month with the

exception of natural resources and mining, which reported no change.



Between January 2008 and January 2009, total nonfarm wage and salary employment

declined from 1,495,000 to 1,430,400, a loss of 64,600 jobs.



? Trade, transportation, and utilities posted the largest overall decline during the year with

the loss of 19,200 jobs. The retail sector accounted for 64 percent of the decrease.

? Construction employment declined by 12,800 jobs. Nearly 70 percent of the job losses

were in specialty trade contractors (down 8,900 jobs), while construction of buildings lost

3,000 jobs and heavy and civil engineering construction lost 900 jobs.

? Only two major industries reported year over payroll employment gains. Educational and

health services added 1,800 jobs, with overall job gains in health care and social

assistance offsetting overall job losses in educational services. Other services added

400 jobs over the year.</em>



Manual U6 calculation coming soon.
 
[quote author="graphrix" date=1236343808]<em><strong>Orange County loses 33,000 jobs over the month, 64,600 jobs over the year</strong>



NOTE: Labor Force and Industry data contained in this release differ from previous

information due to the U.S. Department of Labor?s annual revision process.



The unemployment rate in the Orange County was 7.5 percent in January 2009, up from a

revised 6.6 percent in December 2008, and above the year-ago estimate of 4.4 percent. This

compares with an unadjusted unemployment rate of 10.6 percent for California and 8.5 percent

for the nation during the same period.



Between December 2008 and January 2009, total nonfarm wage and salary employment

declined from 1,463,400 to 1,430,400, a loss of 33,000 jobs.



? Trade, transportation, and utilities posted the largest month over decline with the loss of

7,400 jobs. The retail sector accounted for 82 percent of the decrease as stores began

expected job cutbacks following the holiday shopping season.

? Professional and business services reported an overall loss of 6,100 jobs, with nearly 74

percent of the decline in administrative and support and waste services, which includes

temporary help firms.

? Construction declined by 3,800 jobs with 82 percent of the losses in the specialty trade

contractors sector, in part due to rainy weather. Leisure and hospitality declined by 3,700

jobs, in part due to seasonal layoffs following the holiday season.

? All other major industries reported payroll employment declines over the month with the

exception of natural resources and mining, which reported no change.



Between January 2008 and January 2009, total nonfarm wage and salary employment

declined from 1,495,000 to 1,430,400, a loss of 64,600 jobs.



? Trade, transportation, and utilities posted the largest overall decline during the year with

the loss of 19,200 jobs. The retail sector accounted for 64 percent of the decrease.

? Construction employment declined by 12,800 jobs. Nearly 70 percent of the job losses

were in specialty trade contractors (down 8,900 jobs), while construction of buildings lost

3,000 jobs and heavy and civil engineering construction lost 900 jobs.

? Only two major industries reported year over payroll employment gains. Educational and

health services added 1,800 jobs, with overall job gains in health care and social

assistance offsetting overall job losses in educational services. Other services added

400 jobs over the year.</em>



Manual U6 calculation coming soon.</blockquote>
Wow, a .9% increase in the unemployment rate in one month and a 2%+ decrease in the number of folks employed? I'm betting that Feb. won't be any prettier.
 
wow. I wonder when the 2008 median household income for Irvine will come out.



2007 was $98k.



I wonder what it will be in 2008?
 
[quote author="usctrojanman29" date=1236346042]Wow, a .9% increase in the unemployment rate in one month and a 2%+ decrease in the number of folks employed? I'm betting that Feb. won't be any prettier.</blockquote>


Anecdotally, I can tell you that February will be much worse. Things in my business were okay till the first week, when they promptly fell off a cliff.



My sales and revenues are off 30% from a month ago, which was off 30% from a year ago.
 
<strong>Latest Numbers</strong>



Consumer Price Index +0.3% Jan 2009



Unemployment Rate 8.1% Feb 2009



Payroll Employment -651,000(p) Feb 2009



Average Hourly Earnings +$0.03(p) Feb 2009



Producer Price Index +0.8%(p) Jan 2009



Employment Cost Index +0.5% 4th Qtr 2008



Productivity -.4% 4th Qtr 2008



U.S. Import Price Index -1.1% Jan 2009



Unemployment Initial (UI) Claims 639,000 February 28, 2009



UI Claims 4-Week Average 641,750 February 28, 2009



Federal Minimum Wage $6.55 Current



(p) preliminary; (c) corrected
 
[quote author="no_vaseline" date=1236393474][quote author="usctrojanman29" date=1236346042]Wow, a .9% increase in the unemployment rate in one month and a 2%+ decrease in the number of folks employed? I'm betting that Feb. won't be any prettier.</blockquote>


Anecdotally, I can tell you that February will be much worse. Things in my business were okay till the first week, when they promptly fell off a cliff.



My sales and revenues are off 30% from a month ago, which was off 30% from a year ago.</blockquote>
Wow, that is a steep drop off. What industry is your business in?
 
[quote author="usctrojanman29" date=1236394802][quote author="no_vaseline" date=1236393474][quote author="usctrojanman29" date=1236346042]Wow, a .9% increase in the unemployment rate in one month and a 2%+ decrease in the number of folks employed? I'm betting that Feb. won't be any prettier.</blockquote>


Anecdotally, I can tell you that February will be much worse. Things in my business were okay till the first week, when they promptly fell off a cliff.



My sales and revenues are off 30% from a month ago, which was off 30% from a year ago.</blockquote>
Wow, that is a steep drop off. What industry is your business in?</blockquote>


Aftermarket auto repair.
 
[quote author="no_vaseline" date=1236395467][quote author="usctrojanman29" date=1236394802][quote author="no_vaseline" date=1236393474][quote author="usctrojanman29" date=1236346042]Wow, a .9% increase in the unemployment rate in one month and a 2%+ decrease in the number of folks employed? I'm betting that Feb. won't be any prettier.</blockquote>


Anecdotally, I can tell you that February will be much worse. Things in my business were okay till the first week, when they promptly fell off a cliff.



My sales and revenues are off 30% from a month ago, which was off 30% from a year ago.</blockquote>
Wow, that is a steep drop off. What industry is your business in?</blockquote>


Aftermarket auto repair.</blockquote>


Talking of aftermarket, I never see any more of those Big Blingy 20" wheels on Vehicles anymore, business for those things must have really dropped off right?
 
[quote author="PeterUK" date=1236396139][quote author="no_vaseline" date=1236395467][quote author="usctrojanman29" date=1236394802][quote author="no_vaseline" date=1236393474][quote author="usctrojanman29" date=1236346042]Wow, a .9% increase in the unemployment rate in one month and a 2%+ decrease in the number of folks employed? I'm betting that Feb. won't be any prettier.</blockquote>


Anecdotally, I can tell you that February will be much worse. Things in my business were okay till the first week, when they promptly fell off a cliff.



My sales and revenues are off 30% from a month ago, which was off 30% from a year ago.</blockquote>
Wow, that is a steep drop off. What industry is your business in?</blockquote>


Aftermarket auto repair.</blockquote>


Talking of aftermarket, I never see any more of those Big Blingy 20" wheels on Vehicles anymore, business for those things must have really dropped off right?</blockquote>


My brother works for an Asain tire manufactuer. Those wheels are now the relm of hip hop stars and atheletes. People were using MEW to purchase all kinds of crap that just flat died 12-18 months ago. Same for the sales and modification of 909 Ghetto Cruisers.



<img src="http://images.dieselpowermag.com/features/ford/0806dp_01_z+2005_ford_f250+front_left_view.jpg" alt="" />



Dead, dead, dead, dead, gone.
 
[quote author="PeterUK" date=1236396251]Thanks for all the updates GITOC....



My Wife finally got a Job after 3 months, she starts on Monday.</blockquote>


Peter that is AWESOME, congrats to her! I hope it's a great opportunity where she can really see herself being very happy!



Funny, I was just having lunch with a client on Wednesday... and I mentioned your wife... as he is in a similar type of industry.



Congrats again! Definately some GOOD news!
 
[quote author="no_vaseline" date=1236395467][quote author="usctrojanman29" date=1236394802][quote author="no_vaseline" date=1236393474][quote author="usctrojanman29" date=1236346042]Wow, a .9% increase in the unemployment rate in one month and a 2%+ decrease in the number of folks employed? I'm betting that Feb. won't be any prettier.</blockquote>


Anecdotally, I can tell you that February will be much worse. Things in my business were okay till the first week, when they promptly fell off a cliff.



My sales and revenues are off 30% from a month ago, which was off 30% from a year ago.</blockquote>
Wow, that is a steep drop off. What industry is your business in?</blockquote>


Aftermarket auto repair.</blockquote>


Which makes/models??? I have an oil leak (hose) and an oil pan needing replacement... my regular guy is out on medical... so, I'm looking at at least a month if I wait for him...
 
[quote author="Girl In the OC" date=1236397100][quote author="PeterUK" date=1236396251]Thanks for all the updates GITOC....



My Wife finally got a Job after 3 months, she starts on Monday.</blockquote>


Peter that is AWESOME, congrats to her! I hope it's a great opportunity where she can really see herself being very happy!



Funny, I was just having lunch with a client on Wednesday... and I mentioned your wife... as he is in a similar type of industry.



Congrats again! Definately some GOOD news!</blockquote>


Thank You GITOC, yeah, she's really happy, she will be working at CHOC, the second time around....
 
[quote author="PeterUK" date=1236396251]Thanks for all the updates GITOC....



My Wife finally got a Job after 3 months, she starts on Monday.</blockquote>
That's great news Peter. It's nice to hear that the fellow members and their spouses are getting back to work after being laidoff.
 
[quote author="usctrojanman29" date=1236403321][quote author="PeterUK" date=1236396251]Thanks for all the updates GITOC....



My Wife finally got a Job after 3 months, she starts on Monday.</blockquote>
That's great news Peter. It's nice to hear that the fellow members and their spouses are getting back to work after being laidoff.</blockquote>


Thank You usc, I think we all genuinely care about each other at IHB...



I have met some great Friends here....
 
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