In the week ending May 26, the advance figure for seasonally adjusted initial claims was 383,000, an increase of 10,000 from the previous week’s revised figure of 373,000. The 4-week moving average was 374,500, an increase of 3,750 from the previous week’s revised average of 370,750.
The advance number for seasonally adjusted insured unemployment during the week ending May 19 was 3,242,000, a decrease of 36,000 from the preceding week’s revised level of 3,278,000. The 4-week moving average was 3,263,750, a decrease of 12,000 from the preceding week’s revised average of 3,275,750.
The advance number of actual initial claims under state programs, unadjusted, totaled 341,167 in the week ending May 26, an increase of 10,736 from the previous week. There were 381,497 initial claims in the comparable week in 2011.
http://www.dol.gov/opa/media/press/eta/ui/eta20121072.htm [emphasis added]
Employment in the U.S. nonfarm private business sector increased by 133,000 from April to May on a seasonally adjusted basis. The estimated gain from March to April was revised down modestly, from the initial estimate of 119,000 to a revised estimate of 113,000. Employment in the private, service-providing sector increased by 132,000 in May, after rising a revised 119,000 in April. Employment in the private, goods-producing sector increased 1,000 in May. Manufacturing employment dropped 2,000 jobs, the second consecutive monthly decline.
Job cuts jumped by 53 percent in May from April in the United States, with Hewlett-Packard’s layoffs propelling the computer industry to the top spot among the biggest job cutters this year, a report by consultancy firm Challenger, Gray & Christmas showed on Thursday.
Employers announced plans to cut 61,887 staff from their payrolls in May, 67 percent more than in the same month of last year. The figure represents the most job cuts since last September.
The computer industry dominated job cuts this month, with 27,754 layoffs, of which 27,000 were at Hewlett-Packard. Year to date, the computer industry announced 32,599 job cuts, followed by the transportation sector with 24,193 and the consumer products sector, with 21,846, the report showed.
None of this includes the millions of nonworking adults who aren’t even looking for a job anymore, or that hiring isn’t strong enough to keep up with population growth. The government has admitted there are 86 million “invisible” unemployed in the US. The US government admits to there being 12.5 million “visible” unemployed, which together with the invisible means 94.5 million Americans are available to work but do not have a job. Total US population is 330 million. But 24% of those are young people not eligible to work. And 13 percent are retired. So the total population of available workers in the United States is 100% – (24% + 13%) = 63% of 330 million people, or 207 million workers. And with 94.5 million workers not working, the true jobless rate in the US right now is 45%, not the 8% the media keeps propagandizing about.