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Initial claims for U.S. jobless insurance fell by 4,000 in the week ended Sep 21, 2024, the U.S. Department of Labor reported.
The robust show in the labor market justifies the Federal Reserve’s decision earlier this month to cut interest rates by a solid 50 percentage points for the first time since 2022. The central bank had kept the interest rates high over the period in an attempt to achieve a 2 percent inflation target.
Here are a few charts to explain the latest jobless insurance claims.
California leads other U.S. states by far in initial jobless insurance claims with 38,331 filing for insurance support in the week ended September 21, 2024. It was far ahead of the second placed Texas at 14,055. New York is placed third at 12,660. This chart explains the top states for initial jobless insurance claims for the week ended September 21, 2024.
Texas leads the U.S. in the fall in jobless insurance claims for the said week with a drop of 1,502 claims. It is ahead of the second placed New York that saw 1,415 fewer initial jobless insurance claims for the week. In the third place is South Carolina the experienced a drop of 740 claims. The following chart shows the Top states for decrease in initial insurance claims.
Virginia leads U.S. states among those that saw an increase in the initial unemployment claims for the week ended September 21, 2024. Its 724 more claimants easily beat the next placed Washington’s additional 559 initial jobless claims for the week. Here is a chart showing the top ten worst performing states in combating rise in unemployment:
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