Weekly Unemployment Claims Fall Below 800,000 For The First Time In Months

Another 787,000 people filed new state unemployment claims last week, according to new data released by the Labor Department—that’s fewer than economists were expecting and the lowest level since March, but it’s still an incredibly high number by historical standards.... [+]This is the eighth week in a row that new weekly claims have come in above 700,000—prior to the coronavirus crisis, the record for weekly claims was just under 700,000 in a single week in 1982.

Another 345,440 people—about 8,000 more than the prior week—filed new claims under the Pandemic Unemployment Assistance program, which provides benefits to those not eligible for traditional state programs, like self-employed workers and gig workers.That drop likely reflects the loss of a significant number of workers who have been unemployed for 27 weeks or more, meaning that they are no longer eligible for traditional state unemployment benefits.23.1 million.

have not changed their prediction for when the economy might get back to normal. Some 30 economists polled believe there is a two-thirds probability that things won’t normalize until 2022 or later—that’s essentially unchanged from what they were expecting in May.again across the country, all eyes are on Washington and the prospect of another round of federal pandemic aid legislation.

Can’t wait for these idiots to declare this a victory. They’d rather push lies and a Supreme Court pick before covid relief

Good news yes, but I hope people realize just how terrible this number is for those affected and for our economy.

Probably due to school systems all over the country whiplashing back to distance learning. The wave is starting everywhere.

Nothing is permanent in this wicked world – not even our troubles. --- Charlie Chaplin

Thankfully. But we are not out of the woods yet

If China gave these numbers then actual no would be almost double .😄😂

But the participation rate...

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