Saturday, 19 June, 2021


Another 1 million Americans file unemployment claims

U.S. weekly jobless claims drift around 1 million People wait outside Kentucky Career Center in FrankfortMore
Melba Vasquez | 30 August, 2020, 11:06

Workers in Washington filed 18,389 new, or initial, claims for regular unemployment insurance during the week ending August 22, the state Employment Security Department reported Thursday.

The number of Americans filing new claims for unemployment benefits hovered around one million last week, suggesting the labor market recovery was stalling amid the ongoing COVID-19 pandemic and government financial aid drying up. But with weekly claims now seeming to plateau at around a million, concern is growing that the much-hyped V-shaped economic recovery may flatten or give way to another recessionary dip. NY was one of the faster states doing it. "This reinforces our view that a V-shaped recovery will not happen, and the US economy is unlikely to recover all of its lost output until mid-2022".

Until July 31, the unemployed were receiving an extra $600 a week in federal money on top of regular state unemployment benefits, part of an extraordinary lifeline extended to help them through the crisis.

"It was terrible. Health and economic impacts were tragic".

Director of the National Economic Council Larry Kudlow speaks to reporters inside the Brady Press Briefing Room at the White House in Washington on February 13, 2020. Even with this tiny improvement, the second quarter was still the worst one on record for America's economy. While a slight upward revision from the agency's July estimate of minus 32.9 percent, the number confirms the historic depth of the pandemic plunge.

"While we will take whatever steps are necessary to get as much federal assistance to unemployed New Jersey workers as possible, the FEMA program provides half the benefit and only to a fraction of unemployed individuals and families struggling under the weight of this continuing pandemic", he said, noting the funding will quickly run out and excludes people who didn't lose their job as a result of the pandemic.

MA received 17,100 new unemployment claims in the week ended August 22, little changed from the previous week, while PUA filings rose slightly to more than 12,600. Before the coronavirus pandemic, they never topped 700,000 in a week.

An extra $300 per week available to California's unemployed residents will start going out the week beginning September 7.

The supplemental funds were authorized by an executive order President Donald Trump signed after Congress and the White House earlier this month were unable to agree on a new coronavirus relief package.

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