US Unemployment Benefits Claims Drop 14,000, But Latino-Populated States See Increase in Initial Claims
The U.S. Department of Labor has updated its unemployment benefits claims for August, and while some states saw increases in initial claims, the overall seasonally adjusted figure dropped.
For the week ending on Aug. 16, there were 298,000 seasonally adjusted initial claims. According to the DOL, the adjusted figure is a decrease of 14,000 claims from the previous week's revised data. Last week's data originally disclosed 312,000 unemployment benefits claims.
Based on the four-week moving average, unemployment benefits claims stand at 300,750, an increase of 4,750 claims from last week's revised average.
The DOL noted, "There were no special factors impacting this week's initial claims."
Unemployment rate data was also revised for the week ending on Aug. 9. The DOL noted the advanced seasonally adjusted insured unemployment rate was 1.9 percent, which represented no change from last week. However, the advanced number for seasonally adjusted insured unemployment for the week ending Aug. 9 was 2.5 million, and it is a decrease of 49,000.
"This is the lowest level for insured unemployment since June 16, 2007, when it was 2,453,000," the DOL added.
Based on data for the week ending on Aug. 9, the largest increases of initial unemployment benefits claims included three heavily Latino states: California, Florida and New York.
California, with its Latino population now surpassing that of non-Hispanic whites, saw an increase of initial unemployment benefits by 10,107. New York followed with an increase of 1,928 claims. Massachusetts and Michigan were ahead of Florida with 1,451 and 1,423 initial claims respectively. Florida, the third largest Hispanic-populated state, saw an increase of 1,236 initial claims.
The DOL didn't specify how many individuals claimed benefits for the week ending Aug. 16 were Latino.
Despite the increase in unemployment benefit claims, employment gains in California, Florida and New York saw declines in June. Of the three states, Florida saw the highest job gains with 37,000 while California and New York followed with 24,000 and 22,000 jobs, respectively.
The Latino unemployment rate is 7.8 percent in the U.S., based on July's report from the DOL. The overall Latino unemployment rate is higher than the national average of 6.2 percent. In the U.S., 25.3 million Latinos are in the civilian labor force, but two million are unemployed.
In California, the overall unemployment rate is 7.4 percent. New York's unemployment rate is 6.6 percent. Florida was 0.1 percent higher than the U.S. average with 6.2 percent.
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