On file: The state labor department says first-time claims for unemployment insurance in Louisiana for the week ending May 30 increased to 3,299 from the previous week’s total of 3,166. Health and social assistance had the largest increase in the initial claims. For the comparable week a year earlier, officials say there were 2,976 initial claims, according to a report released today. The four-week moving average, a less volatile measure, increased to 3,016 from the previous week’s average of 2,816. Continued unemployment claims for the week ending May 30 increased to 23,706 compared to 23,516 the previous week. The four-week moving average for such claims increased to 23,246 from the previous week’s average of 22,981. The Louisiana Workforce Commission has more details.
The silver lining: Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by seven this week to 868. However, the number of active rigs in Louisiana increased by three on the week to 70. Nationwide, 642 rigs were seeking oil and 222 explored for natural gas, according to the Houston-based firm’s weekly report, released today. Four rigs were listed as miscellaneous. A year ago, with oil prices nearly double the current levels, 1,860 rigs were active. Among major oil- and gas-producing states, Texas lost five rigs, and Colorado and New Mexico each declined by two. Arkansas, North Dakota, Ohio and Pennsylvania dropped one apiece. West Virginia was up two, and California and Kansas rose by one each. The U.S. rig count peaked at 4,530 in 1981 and bottomed at 488 in 1999.
Off the hook: A federal jury has found a former BP executive not guilty of making false statements to investigators in connection with the 2010 Gulf of Mexico oil spill. As The Associated Press reports, prosecutors said David Rainey manipulated calculations in the early days of the 2010 spill to match a far-too-low government estimate of the amount of oil spewing into the Gulf following the explosion of the Deepwater Horizon drilling rig. However, defense attorneys said Rainey’s figures were made honestly and that he had no reason to lie. The jury agreed, and so did the judge. “I agree with the verdict,” said U.S. District Judge Kurt Engelhardt said as he thanked the jurors today. Rainey was one of a handful of people charged criminally in connection with the disaster. Read the full story.
