California Posts Biggest Drop In Jobless Claims
LOS ANGELES (CBS) — The number of Americans filing for unemployment benefits went up again last week, but in California, that number is down.
Applications for benefits for the week ending July 14 increased to a seasonally adjusted 386,000, after a drop of 24,000 the previous week, according to the Labor Department. It’s the biggest jump since April 2011.
CBSMoneyWatch.com Editor-At-Large Jill Schlesinger told KNX 1070 the spike wasn’t much of a surprise.
“The increase was expected, because a big drop in the previous week was really about some seasonal factors in the auto industry,” Schlesinger reported.
Automakers skipped some of their usual summer shutdowns this year because stronger sales are keeping plants busier.
California, however, saw the biggest drop in new jobless claims – 9,016, partly thanks to the inclusion of a shortened work week due to the July 4th holiday. The Department of Labor says all of California’s sectors saw a decrease in jobless claims, with the largest decrease in the service industries.