The Department of Labor reports unemployment (initial claims) statistics as follows.

“In the week ending June 19, the advance figure for seasonally adjusted initial claims was 457,000, a decrease of 19,000 from the previous week’s revised figure of 476,000. The 4-week moving average was 462,750, a decrease of 1,500 from the previous week’s revised average of 464,250.”

These figures are still high and continued job losses may still be on the horizon.

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The job market will remain sluggish for 2010! Companies for the last two years have downsized to an efficient operating workforce, therefore without demand, hiring will remain flat.

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According to the FDIC bank failures from 2009 to 2013 is expected to cost $100 billion. Small(regional) banks are failing due to the loan losses from the credit boom. Many losses are result of the collapsed commercial real estate projects.

Brief Rundown;

Bank                                                                                     Assets                                   Deposits

Sun West Bank (Nevada)                                               $360.7 million                   $353.9 million
Granite Community Bank (California)                      $102.9 million                    $94.2 million
Bank of Florida – Tampa Bay (Florida)                    $245.2 million                     $224.0 million
Bank of Florida Southwest (Florida)                          $640.9 million                    $559.9 million
Bank of Florida Southeast (Florida)                            $595.3 million                   $531.7 million

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“In the week ending May 22, the advance figure for seasonally adjusted initial claims was 460,000, a decrease of 14,000 from the previous week’s revised figure of 474,000. The 4-week moving average was 456,500, an increase of 2,250 from the previous week’s revised average of 454,250.”

These figures are still high and continued job losses may still be on the horizon.

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“In the week ending May 15, the advance figure for seasonally adjusted initial claims was 471,000, an increase of 25,000 from the previous week’s revised figure of 446,000. The 4-week moving average was 453,500, an increase of 3,000 from the previous week’s unrevised average of 450,500.”

These figures are still high and continued job losses may still be on the horizon.

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“IIn the week ending May 8, the advance figure for seasonally adjusted initial claims was 444,000, a decrease of 4,000 from the previous week’s revised figure of 448,000. The 4-week moving average was 450,500, a decrease of 9,000 from the previous week’s revised average of 459,500.”

These figures are still high and continued job losses may still be on the horizon.

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Nonfarm payroll employment rose by 290,000 in April, the unemployment rate edged up to 9.9 percent, and the labor force increased sharply, the U.S. Bureau of Labor Statistics reported today.

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“In the week ending May 1, the advance figure for seasonally adjusted initial claims was 444,000, a decrease of 7,000 from the previous week’s revised figure of 451,000. The 4-week moving average was 458,500, a decrease of 4,750 from the previous week’s revised average of 463,250.”

The 4 week moving averaging of unemployment claims is near its lowest level since September 2008. However, that figure is still high and continued job losses may still be on the horizon.

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Nonfarm private employment increased 32,000 from March to April 2010 on a seasonally adjusted basis, according to the ADP National Employment Report. The estimated change in employment from February to March 2010 was revised up, from a decline of 23,000 to an increase of 19,000.

In addition, the revised estimate of the monthly change in employment from January to February 2010 shows a modest increase of 3,000. Thus, employment has increased for three straight months, albeit only modestly. The slow pace of improvement from February through April is consistent with the pause in the decline of initial unemployment claims that occurred during the winter months.
…
April’s ADP Report estimates nonfarm private employment in the service-providing sector rose by 50,000, the third consecutive monthly increase. Employment in the goods-producing sector declined 18,000 during April. However, while construction employment dropped 49,000, manufacturing employment, in an encouraging sign, rose 29,000, the third consecutive monthly increase.

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“In the week ending April 24, the advance figure for seasonally adjusted initial claims was 448,000, a decrease of 11,000 from the previous week’s revised figure of 459,000. The 4-week moving average was 462,500, an increase of 1,500 from the previous week’s revised average of 461,000.”

The 4 week moving averaging of unemployment claims is near its lowest level since September 2008. However, that figure is still high and continued job losses may still be on the horizon.

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