The number of initial claims for jobless benefits rose slightly to 219,000 last week, close to our forecast and the pre-pandemic average of 218,000. New claims have trended lower since last August as the 13-week moving average touched 218,000 after peaking at 235,000, a sign that the labor market ... READ MORE >
state jobless claims
Initial jobless claims are still six times higher than normal
We can add another 1.5 million Americans to the ranks of the newly unemployed. Initial jobless claims for the week ending June 13 are six times higher than the five-year average of 240,000 prior to the coronavirus pandemic. And in the 13 weeks since the shutdown of the economy, state employment agencies ... READ MORE >
State jobless claims continue to decelerate in week ending May 23
Another 2.1 million first-time unemployment claims were processed by state employment agencies for the week ending May 23, with 323,000 less than the prior week but still 10 times the normal amount. Because of the staggering magnitude of initial claims, it seems premature to declare the end of the rush ... READ MORE >