U.S. jobless claims fall; reading clouded by processing snafu

Reuters ^ | September 12, 2013 | by Jason Lange

[Oldeconomybuyer]

The number of new U.S. jobless claims fell sharply last week but much of the decline appeared due to technical problems in claims processing, clouding the last major reading of labor market health before a Federal Reserve meeting.

Initial claims for state unemployment benefits slipped 31,000 to a seasonally adjusted 292,000, the Labor Department said on Thursday.

That was the lowest level of claims since 2006, confounding analysts' expectations for a mild increase.

But a department analyst said the majority of the decline appeared to be because two states were upgrading their computer systems and did not process all the claims they received during the week. One of the states was large and the other small, the analyst said.

[Diana in Wisconsin]

[SunkenCiv]

Thanks Oldeconomybuyer.

The number of new U.S. jobless claims fell sharply last week but much of the decline appeared due to technical problems in claims processing...

Yeah, a glitch, just a glitch.

[devolve]

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- Africa apes (gorillas) have something “incredibly small”

2”

There goes the old urban (Chicago) legend/mythology

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[devolve]

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- Africa apes (gorillas) have something “incredibly small”

2”

There goes the old urban (Chicago) legend/mythology

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.

[CT]

Last month 312,000 Americans stopped looking for work, causing the unemployment rate to fall to 7.3 percent. Today President Obama called it a step in the right direction and encouraged more Americans to stop
looking for work.” –Jay Leno

[John S Mosby]

In other words their system does not report properly and these figures are meaningless and inaccurate.

[ChildOfThe60s]

[ridesthemiles]

I live in N Nevada.

For 3++ weeks, claimants have been unable to file their unemployment claims.

A “NEW” computer system isn’t working as planned & they cannot access & file their weekly claims.

I think this applies to both new claims & ongoing claims.