Jobless claims: Another 730,000 Americans filed new unemployment claims
Source: Yahoo! Finance
Yahoo Finance
Jobless claims: Another 730,000 Americans filed new unemployment claims
Emily McCormick·Reporter
Thu, February 25, 2021, 8:31 AM
Weekly unemployment claims fell far more than expected last week, as the labor market recovery took a stride forward even as harsh winter weather compounded with the coronavirus pandemic over the past several weeks.
The Department of Labor released its weekly report on new jobless claims Thursday at 8:30 a.m. ET. Here were the main metrics from the report, compared to consensus data compiled by Bloomberg:
-- Initial jobless claims, week ended February 20: 730,000 vs. 825,000 expected and 861,000 during prior week
-- Continuing claims, week ended February 13: 4.419 million vs. 4.460 million expected and 4.494 million during prior week
Initial unemployment claims fell first time in five weeks for the period ending Feb. 20, and broke below 800,000 for the first time in seven weeks. But even the bigger than expected drop left claims well above their pre-pandemic levels, when claims were coming in at an average of just over 200,000 per week.
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Read more: https://finance.yahoo.com/news/weekly-jobless-claims-week-ended-february-20-labor-market-193542565.html
mahatmakanejeeves
(56,884 posts)Last edited Thu Feb 25, 2021, 10:17 AM - Edit history (1)
https://www.dol.gov/ui/data.pdfConnect with DOL at
https://blog.dol.gov
TRANSMISSION OF MATERIALS IN THIS RELEASE IS EMBARGOED UNTIL
8:30 A.M. (Eastern) Thursday, February 25, 2021
UNEMPLOYMENT INSURANCE WEEKLY CLAIMS
SEASONALLY ADJUSTED DATA
In the week ending February 20, the advance figure for seasonally adjusted initial claims was 730,000, a decrease of 111,000 from the previous week's revised level. The previous week's level was revised down by 20,000 from 861,000 to 841,000. The 4-week moving average was 807,750, a decrease of 20,500 from the previous week's revised average. The previous week's average was revised down by 5,000 from 833,250 to 828,250.
The advance seasonally adjusted insured unemployment rate was 3.1 percent for the week ending February 13, a decrease of 0.1 percentage point from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending February 13 was 4,419,000, a decrease of 101,000 from the previous week's revised level. The previous week's level was revised up 26,000 from 4,494,000 to 4,520,000. The 4-week moving average was 4,547,000, a decrease of 91,500 from the previous week's revised average. The previous week's average was revised up by 6,500 from 4,632,000 to 4,638,500.
{snip}
UNADJUSTED DATA
{snip. Emphasis mine}
The total number of continued weeks claimed for benefits in all programs for the week ending February 6 was 19,042,686, an increase of 701,102 from the previous week. There were 2,130,673 weekly claims filed for benefits in all programs in the comparable week in 2020.
{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 (202) 693-7828 (voice) or (800) 877-8339 (federal relay).
U.S. Department of Labor
Employment and Training Administration
Washington, D.C. 20210
Release Number: USDL 21-365-NAT
Program Contacts:
Thomas Stengle: (202) 693-2991
Media Contact: (202) 693-4676
still_one
(91,937 posts)Stuart G
(38,359 posts)-- "Initial jobless claims, week ended February 20: 730,000 vs. 825,000 expected and 861,000 during prior week"
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That number is about 12% ....less than expected."...Still this sentence is also very upsetting:
:"But even the bigger than expected drop left claims well above their pre-pandemic levels, when claims were coming in at an average of just over 200,000 per week. "
bucolic_frolic
(42,656 posts)Even with priming the pump of disposable income through stim and unemployment payments, the economy has changed. People are working at home if they can or have created a home gig startup, and they're liking it. Building out that IT infrastructure has been a driving engine of growth. But at the end of the day those folks are home. DoorDash may be ok, but restaurants, nightlife is not. And who really wants to return to the hour drive in commuter traffic?
paleotn
(17,778 posts)The nation needs the Covid Relief bill desperately. I'd love to have the $15 per hour min wage attached, but it's not a deal killer without it. Get it done.