Another 751,000 Americans filed for unemployment benefits last week

[mahatmakanejeeves]

Source: CNN

Another 751,000 Americans filed for unemployment benefits last week

By Anneken Tappe, CNN Business

Updated 8:33 AM ET, Thu November 5, 2020

New York (CNN Business) -- The election is yet to be decided, but for one thing is certain: the next President will have to deal with America's massive unemployment problem.

Another 751,000 Americans claimed first-time jobless benefits last week on a seasonally adjusted basis, the Labor Department reported Thursday. That's down slightly from the prior week.

On top of that, 362,883 workers not eligible for regular state benefits, such as the self-employed or gig workers, claimed aid under the Pandemic Unemployment Assistance program.

Added up, first-time claims stood at 1.1 million last week without seasonal adjustments.

{snip}

Read more: https://www.cnn.com/2020/11/05/economy/unemployment-benefits-coronavirus/index.html

---

I'll link to the source in a bit.

[mahatmakanejeeves]

1. From the source:

https://www.dol.gov/ui/data.pdf

News Release Connect with DOL at https://blog.dol.gov
TRANSMISSION OF MATERIALS IN THIS RELEASE IS EMBARGOED UNTIL
8:30 A.M. (Eastern) Thursday, November 5, 2020

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS
SEASONALLY ADJUSTED DATA

In the week ending October 31, the advance figure for seasonally adjusted initial claims was 751,000, a decrease of 7,000 from the previous week's revised level. The previous week's level was revised up by 7,000 from 751,000 to 758,000. The 4-week moving average was 787,000, a decrease of 4,000 from the previous week's revised average. The previous week's average was revised up by 3,250 from 787,750 to 791,000.

The advance seasonally adjusted insured unemployment rate was 5.0 percent for the week ending October 24, a decrease of 0.3 percentage point from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending October 24 was 7,285,000, a decrease of 538,000 from the previous week's revised level. The previous week's level was revised up 67,000 from 7,756,000 to 7,823,000. The 4-week moving average was 8,244,500, a decrease of 827,250 from the previous week's revised average. The previous week's average was revised up by 18,500 from 9,053,250 to 9,071,750.

{snip}

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 738,166 in the week ending October 31, a decrease of 543 (or -0.1 percent) from the previous week. The seasonal factors had expected an increase of 6,099 (or 0.8 percent) from the previous week. There were 205,625 initial claims in the comparable week in 2019. In addition, for the week ending October 31, 52 states reported 362,883 initial claims for Pandemic Unemployment Assistance.

The advance unadjusted insured unemployment rate was 4.7 percent during the week ending October 24, a decrease of 0.4 percentage point from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 6,951,731, a decrease of 537,898 (or -7.2 percent) from the preceding week. The seasonal factors had expected a decrease of 242 (or -0.003 percent) from the previous week. A year earlier the rate was 1.0 percent and the volume was 1,423,681.

{snip. Emphasis mine}

The total number of people claiming benefits in all programs for the week ending October 17 was 21,508,662, a decrease of 1,152,854 from the previous week. There were 1,444,923 persons claiming benefits in all programs in the comparable week in 2019.

{snip the rest of the twelve-page news release, until the end}

Weekly Claims Archives
Weekly Claims Data

U.S. Department of Labor news materials are accessible at http://www.dol.gov. The Department's Reasonable Accommodation Resource Center converts Departmental information and documents into alternative formats, which include Braille and large print. For alternative format requests, please contact the Department at [phone] (voice) or [phone] (federal relay).

U.S. Department of Labor
Employment and Training Administration
Washington, D.C. 20210
Release Number: USDL 20-2059-NAT

Program Contacts:
Thomas Stengle: [phone]
Media Contact: [phone]

[cstanleytech]

2. The Republican-led Senate will kill any bill that would help those people.

[BobTheSubgenius]

3. Holy hell.

50,000 votes here....a few hundred there, 600,000 in PA, dwindling down to near zero. All these big and important numbers bandied about...until a number like this hits you in the face, full on.

That could be anywhere from 750,000 to 4,000,000 lives that just got blown up. All the numbers I've mentioned are significant, but this one is tragic.