Most Read
Image 01 Image 02 Image 03

Unemployment Claims Up Slightly, But Continuing Claims Dropped by 1.107 Million

Unemployment Claims Up Slightly, But Continuing Claims Dropped by 1.107 Million

Spike in coronavirus cases led to states implementing new restrictions.

https://www.youtube.com/watch?v=t3GuOc6FSCo

The unemployment claims last week went up slightly to 1.416 million.

However, continuing claims decreased. That means the unemployment went down a little bit to 11.1%. You need to remember that these numbers lag behind a week.

From the Labor Department:

In the week ending July 18, the advance figure for seasonally adjusted initial claims was 1,416,000, an increase of 109,000 from the previous week’s revised level. The previous week’s level was revised up by 7,000 from 1,300,000 to 1,307,000. The 4-week moving average was 1,360,250, a decrease of 16,500 from the previous week’s revised average. The previous week’s average was revised up by 1,750 from 1,375,000 to 1,376,750.

The advance seasonally adjusted insured unemployment rate was 11.1 percent for the week ending July 11, a decrease of 0.7 percentage point from the previous week’s revised rate. The previous week’s rate was revised down by 0.1 from 11.9 to 11.8 percent. The advance number for seasonally adjusted insured unemployment during the week ending July 11 was 16,197,000, a decrease of 1,107,000 from the previous week’s revised level. The previous week’s level was revised down by 34,000 from 17,338,000 to 17,304,000. The 4-week moving average was 17,505,250, a decrease of 758,500 from the previous week’s revised average. The previous week’s average was revised down by 8,500 from 18,272,250 to 18,263,750.

The new claim number is not a surprise. America has seen a rise in coronavirus cases so “states imposed new restrictions on businesses such as bars and restaurants when coronavirus cases rose.”

From The Wall Street Journal:

The level of claims indicates many workers are being laid off, perhaps for a second time, and that parents who want to work are unable to access child care, she said.

Other data also shows an easing in demand for labor. Job openings in July are down from June across the U.S., and Google searches for “file for unemployment” are creeping up. Growth in worker hours is waning at small businesses after several weeks of gains.

California is among the states that imposed new restrictions to deal with a surge in cases of the new coronavirus. The latest restrictions caused Jessica Jenkins, a 30-year-old hair stylist, to lose her job last week for the second time this year.

DONATE

Donations tax deductible
to the full extent allowed by law.

Comments

Improper recording, weak attribution, protests/riots, immigration/migration reform, and flattened/delayed spreading will produce irregularities (“spikes”).

Monitor for symptoms. Practice good hygiene to mitigate asymptomatic (e.g. fecal) transmission. The new normal is the old normal.

General numbers look far better (data.bls.gov) Seasonal adjusted unemployment is rapidly returning to the peak from the Obama years

(See if this chart can be pasted in here 2000-2020)
https://data.bls.gov/generated_files/graphics/latest_numbers_LNS14000000_2000_2020_all_period_M06_data.gif

While the year-to-date numbers have a ways to go, they’re getting better far faster than the Dems would like. (see if this pastes better)

https://i.gyazo.com/9cfdec8a542b31ca431b74b53d41a722.png

The Dems only have a little over three months to screw up the economy before the election. I hope they fail.

    Mac45 in reply to georgfelis. | July 23, 2020 at 12:56 pm

    Too late, George. The economy is fatally crippled. And it is going to be that way for quite awhile.

    We are seeing another net employment loss this week. More unemployment claims are being filed than existing claims being closed. This means that the job market is contracting further. And, not all of the reduction in existing claims are people going back to work. Also, these numbers do not necessarily reflect small business owners, who may not be eligible for unemployment benefits.

    In order for the economy to be showing signs of good health, we should be seeing a massive reduction in the unemployment numbers. Instead, we are seeing a net INCREASE in unemployment. Then we have the trend to significantly higher bankruptcy rates and a likelihood that fewer small businesses will be able to reopen at all. Add in the humongous deficits being run up by the governments and the economic future of this nation looks very, very bleak.

    The horrible thing about all of this is that it by design and based entirely upon a hoax perpetrated for political reasons. No one can seem to come up with any medical reason for the seemingly huge spike in COVID cases in the Southern, Republican swing states. Logically, if all of these positive test results were actual COVID iunfections, the hospitals would be overwhelmed with COVID patients. They are not. When someone actually looks at the numbers, only about 20% of the patients in hospitals in these regions are COVID patients. The rest are for a myriad of more mundane disorders and injuries. Then there is the fact that there is no corresponding spike in the Midwestern and Northeastern Democrat states, which were the epicenter of the virus a few months ago. And finally, there is the astronomical percentage of people who are being classified as being asymptomatic. Over 90% of the people who test positive to COVID exposure exhibit NO physical symptoms at all. But, we are supposed to believe that they are all infected and infectious. This is like no other viral infection ever seen. And, finally, we keep stumbling across people being classified as COVID cases and deaths, even though they dies of other causes, such as physical trauma from a motorcycle accident.

    Wake up people. At this point, the COVID hoax, the BLM/AntiFa attacks and all the other BS is deigned to facilitate the replacement of President Trump. And the damage done to people, the nation and the world is irrelevant to those responsible. Get ready for the stock markets to tank around Halloween, as well. The market is being artificially shored up now.

I was unscheduled last week for my weekend job, because I refuse to wear a mask. We’ve been ignoring the new policy for the last month, but now we’re not allowed to ignore it any longer.

Maybe the new claims are from others who don’t want to follow new (untested and unscientific) policies?

BTW my primary employer continues to ignore the new policy.

So, we’re going to be treated to these cartoonish propaganda articles for the next 103 days, in a pathetic attempt to boost the orange clown to victory, and then we’ll be treated to a whole series of articles consisting of wild eyed, fact free conspiracy theories as to just how the election was stolen.

Right?

Font Resize
Contrast Mode
Send this to a friend