South By North Strategies, Ltd.

For the benefit week ending on August 13, 2011,  11,072 North Carolinians filed initial claims for state unemployment insurance benefits, and 108,633 individuals applied for state-funded continuing benefits. Compared to the prior week, there were more initial and fewer continuing claims. These figures come from data released by the U.S. Department of Labor.

Averaging new and continuing claims over a four-week period — a process that helps adjust for seasonal fluctuations and better illustrates trends — shows that an average of 10,781 initial claims were filed over the previous four weeks, along with an average of 109,375 continuing claims. Compared to the previous four-week period, the averages of initial and continuing claims were lower.

One year ago, the four-week average for initial claims stood at 12,699 and the four-week average of continuing claims equaled 133,208.

While the number of claims has dropped over the past year so has covered employment. Last week, covered employment totaled 3.7 million, down from 3.8 million a year ago.

The graph shows the changes in unemployment insurance claims (as a share of covered employment) in North Carolina since the recession’s start in December 2007.

Both new and continuing claims appear to have peaked for this cycle, and the four-week averages of new and continuing claims have fallen considerably. Also, the four-week average of new claims is now roughly at a level last not seen since October 2008. Yet continuing claims remain at an elevated level, which suggests that unemployed individuals are finding it difficult to find new positions.