Thursday, August 13, 2009
UI Exhaustion Rate - Declines As Monthly Total Climbs
So running through the DOL stats on the exhaustion rate for UI (the current final UI payments over the 26 week lagged initial payments), the only accessible value is a 12 month average that looked like it was experiencing some compression (barely went up this month from last month).
So I grabbed some numbers (had to copy/paste into a .csv and then bring into a spreadsheet). I expect we will see/are seeing some declines in the monthly exhaustion rate due to the huge ramp in the number of initial payments six months ago - while the monthly total of final payments continues its exponential climb. There will be lots more folks falling off the backside of continuing claims due to that bulge in initial payments starting last December...want to see continuing claims plus extended claims...
DOL Monthly Data
As is indeed the case, the large influx is making the exhaustion rate go down - for the moment - but it is just putting more folks in the pipeline as potential future "exhaustees"...