South By North Strategies, Ltd.

For the benefit week ending on September 26th, 16,383 North Carolinians filed initial claims for unemployment insurance, and 181,622 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 16,785 initial claims were filed over the last four weeks, along with an average of 185,522 continuing claims. Both levels were down slightly compared to the previous four-week period. The four-week average for initial claims is now at the lowest level recorded since the period ending on November 1, 2008.

The graph shows the changes in unemployment insurance claims (as a share of covered employment) in North Carolina since the recession’s start (12/07).

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.