South By North Strategies, Ltd.

For the benefit week ending on October 10th, 15,852 North Carolinians filed initial claims for unemployment insurance, and 162,071 individuals applied for continuing insurance benefits. Compared to the prior week, there were fewer initial and continuing claims. These figures come from data released today 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 16,491 initial claims were filed over the last four weeks, along with an average of 176,995 continuing claims. Compared to the previous four-week period, both initial and continuing claims were lower.

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.

Although new and continuing claims appear to have peaked for this cycle, the claims levels remain elevated and point to a labor market that remains extremely weak.