Contact Us
Make My Homepage

Jobless Claims Down Nationally, Spike In New Jersey [AUDIO]

Jobless claims dropped nationwide. But here in New Jersey, seasonal factors caused a big spike last week.

John Moore, Getty Images

Economic analyst Patrick O’Keefe of J-H Cohn in Roseland says the more-than-40 percent increase in initial unemployment claims in Jersey is attributable to seasonal furloughs of school district employees. O’Keefe says when we look at the broader picture, we have to keep in mind that the unemployment insurance claims are a proxy for layoffs. And that is why they will fluctuate.

He says last month’s big increase in Jersey job creation was due in part of Revel’s opening in Atlantic City. O’Keefe says beyond that, new jobs in the state will continue to grow, but at a very slow pace for the near-term. He says it is slow but steady progress in adding to the employment level here in New Jersey.

The Federal Labor Department said Thursday weekly applications fell to a seasonally adjusted 386,000. That’s down from 392,000 the previous week, which was revised up. The four-week average, which smooths week-to-week fluctuations, was mostly unchanged at 386,750.

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

 

Best of NJ 101.5

Recommended For You

Around the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to http://nj1015.com using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for New Jersey Insiders quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive New Jersey Insiders contests, events, coupons, presales, and much more delivered to you for FREE.