Unemployment Extension News
June 2022 News Update: May's US National Unemployment figures were released today, they are showing no change in unemployment nationwide:
3.6% (flat)
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4/3/2022: in April 2022: March`s national unemployment rate decreased to 3.6% (down 0.2%.) US economy added 431,000 jobs in March of 2022. Most of the month-over-month job gains took place in Hospitality +112,000, Professional Services +102,000, Education +53,000, Retail +49,000, Manufacturing +38,000, and Construction +19,000. The US labor force participation rate is 62.4% (up 0.1%.) Inflation is at 7.9%. The real national unemployment rate is flat at 7.1%. There are currently 5.3 million individuals who want to find a job but cannot find it (up 0.4 million since last month.) March`s unemployment rate among population segments were as follows: Whites 3.2% (down 0.1%), adult men 3.4% (down 0.1%), adult women 3.3% (down 0.3%), Hispanic 4.2% (down 0.2%), Asian 2.8% (down 0.3%), African American 6.2% (down 0.4%), teenagers 10.0% (down 0.3%.) The weekly national unemployment rate is at 0.9% (down 0.1%.) The new number of claims increased by 14,000 to 202,000. The four-week moving average decreased by 3,500 to 208,500. Insured unemployment decreased by 35,000 to 1.3 million - the lowest level since 1969.
3/8/2022: in March 2022: February`s national unemployment rate decreased to 3.8% (down 0.2%.) US economy added 678,000 jobs in February of 2021. The US labor force participation rate is 62.3% (up 0.1%.) The real national unemployment rate decreased by 0.4% to 7.1%. There are currently 5.4 million individuals who want to find a job but cannot find it (down 0.3 million since last month.) February`s unemployment rates among population segments were as follows: Whites 3.3% (down 0.1%), adult men 3.5% (down 0.3%), adult women 3.6% (flat), Hispanic 4.4% (down 0.5%), Asian 3.1% (down 0.5%), African American 6.6% (down 0.3%), teenagers 10.3% (down 0.6%.) The weekly national unemployment rate is at 1.1% (flat.) The new number of claims decreased by 18,000 to 215,000. The four-week moving average increased by 6,000 to 230,500. Insured unemployment increased by 2,000 to 1.5 million.
2/6/2022: in February 2022: January`s national unemployment rate increased to 4.0% (up 0.1%.) US economy added 467,000 jobs in January of 2021. The US labor force participation rate is 62.2% (up 0.3%.) The real national unemployment rate is flat at 7.5%. There are currently 5.7 million individuals who want to find a job but cannot find it (flat since December 2021.) January`s unemployment rate among population segments were as follows: Whites 3.4% (up 0.2%), adult men 3.8% (up 0.2%), adult women 3.6% (flat), Hispanic 4.9% (flat), Asian 3.6% (down 0.2%), African American 6.9% (down 0.2%), teenagers 10.9% (flat.) The weekly national unemployment rate is at 1.2% (flat.) The new number of claims decreased by 23,000 to 238,000. The four-week moving average increased by 7,750 to 255,000. Insured unemployment decreased by 44,000 to 1.6 million.
1/9/2022: in January 2022: December`s national unemployment rate decreased to 3.9% (down 0.3%.) US economy added 199,000 jobs in December of 2021. The US labor force participation rate is 61.9% (up 0.1%.) The real national unemployment rate is down 0.5% to 7.4%. There are currently 5.7 million individuals who want to find a job but cannot find it (down 106,000 since November 2021.) December`s unemployment rate among population segments were as follows: Whites 3.2% (down 0.5%), adult men 3.6% (down 0.3%), adult women 3.6% (down 0.3%), Hispanic 4.9% (down 0.3%), Asian 3.8% (down 0.1%), African American 7.1% (up 0.6%), teenagers 10.9% (flat.) The weekly national unemployment rate is at 1.3% (flat.) The new number of claims increased by 7,000 to 207,000. The four-week moving average increased by 4,750 to 204,500. Insured unemployment increased by 36,000 to 1.8 million.
12/05/2021: in December 2021: November`s national unemployment rate decreased to 4.2% (down 0.4%.) US economy added 210,000 jobs in November of 2021. The US labor force participation rate is 61.8% (up 0.2%.) The real national unemployment rate is down 0.4% to 7.9%. There are currently 5.9 million individuals who want to find a job but cannot find it (down 119,000 since October 2021.) November`s unemployment rate among population segments were as follows: Whites 3.7% (down 0.3%), adult men 4.0% (down 0.3%), adult women 4.0% (down 0.4%), Hispanic 5.2% (down 0.7%), Asian 3.8% (down 0.4%), African American 6.7% (down 1.2%), teenagers 11.2% (down 0.7%.) The weekly national unemployment rate is at 1.4% (down 0.1%.) The new number of claims increased by 28,000 to 222,000. The four-week moving average decreased by 12,250 to 238,750. Insured unemployment decreased by 107,000 to 2.0 million - the lowest level since March 2020.
11/07/2021: in November 2021: October`s national unemployment rate decreased to 4.6% (down 0.2%.) US economy added 531,000 jobs in October of 2021. The US labor force participation rate is 61.6% (flat.) The real national unemployment rate is down 0.2% to 8.3%. There are currently 6.0 million individuals who want to find a job but cannot find it (flat since September 2021.) October`s unemployment rate among population segments were as follows: Whites 4.0% (down 0.2%), adult men 4.3% (down 0.4%), adult women 4.4% (up 0.2%), Hispanic 5.9% (down 0.4%), Asian 4.2% (flat), African American 7.9% (flat), teenagers 11.9% (up 0.4%.) The weekly national unemployment rate is at 1.6%. The new number of claims decreased by 14,000 to 269,000 - the lowest level since March 2020. The four-week moving average decreased up by 15,000 to 284,750. Insured unemployment decreased by 134,000 to 2.1 million - the lowest level since March 2020.
10/10/2021: in October 2021: September`s national unemployment rate decreased to 4.8% (down 0.4%.) US economy added 194,000 jobs in September of 2021. The US labor force participation rate is 61.6% (down 0.1%.) The real national unemployment rate is down at 8.5%. There are currently 6.0 million individuals who want to find a job but cannot find one(up 0.3 million since August 2021.) September`s unemployment rate among population segments were as follows: Whites 4.2% (down 0.3%), adult men 4.7% (down 0.4%), adult women 4.2% (down 0.6%), Hispanic 6.3% (down 0.1%), Asian 4.2% (down 0.4%), African American 7.9% (down 0.9%), teenagers 11.5% (up 0.3%.) The weekly national unemployment rate is at 2.0%. The new number of claims decreased by 38,000 to 326,000. The four-week moving average iinched up by 3,500 to 344,000. Insured unemployment decreased by 97,000 to 2.7 million - the lowest level since March 2020.
9/16/2021: in September 2021: August's national unemployment rate decreased to 5.2% (down 0.2%) - 1.7% higher than the lowest pre-COVID-19 unemployment level. US economy added 235,000 jobs in August of 2021. The US labor force participation rate is 61.7% (flat.) The real national unemployment rate is down at 8.7%. There are currently 5.7 million individuals who want to find a job but cannot find one(down 0.8 million since June 2021.) August`s unemployment rate among population segments were as follows: Whites 4.5% (down 0.3%), adult men 5.1% (down 0.3%), adult women 4.8% (down 0.2%), Hispanic 6.4% (down 0.2%), Asian 4.6% (down 0.7%), African American 8.8% (up 0.6%), teenagers 11.2% (up 1.6%.) The weekly national unemployment rate is 2.1%. The new number of claims increased by 16,000 to 351,000. The four-week moving average is flat at 335,750. Insured unemployment increased by 131,000 to 2.8 million.
8/10/2021: in August 2021: July`s national unemployment rate decreased to 5.4% (down 0.5%) - 1.9% higher than the lowest pre-COVID-19 unemployment level. US economy added 943,000 jobs in July of 2021. The US labor force participation rate is 61.7% (up 0.1%.) The real national unemployment rate is down at 9.4%. There are currently 6.5 million individuals who want to find a job but unable (up 89,000 since June 2021.) July`s unemployment rate among population segments were as follows: Whites 4.8% (down 0.4%), adult men 5.4% (down 0.5%), adult women 5.0% (down 0.5%), Hispanic 6.6% (down 0.8%), Asian 5.3% (down 0.5%), African American 8.2% (down 1.0%), teenagers 9.6% (down 0.3%.) The weekly national unemployment rate is 2.1%. The new number of claims decreased by 14,000 to 385,000. The four-week moving average is flat at 394,000. Insured unemployment decreased by 366,000 to 2.9 million.
7/3/2021: in July 2021: June`s national unemployment rate increased to 5.9% (up 0.1%) - 2.4% higher than the lowest pre-COVID-19 unemployment level. US economy added 850,000 jobs in June of 2021. The US labor force participation rate is flat at 61.6%. The real national unemployment rate is flat at 9.9%. There are currently 6.4 million individuals who want to find a job but unable (down 172,000 since May 2021.) June`s unemployment rate among population segments were as follows: Whites 5.2% (up 0.1%), adult men 5.9% (flat), adult women 5.5% (up 0.1%), Hispanic 7.4% (up 0.1%), Asian 5.8% (up 0.3%), African American 9.2% (up 0.1%), teenagers 9.9% (up 0.3%.) The weekly national unemployment rate is 2.5%. The new number of claims decreased by 51,000 to 364,000 - the lowest rate since March 2020. The four-week moving average decreased by 6,000 to reach 392,750. Insured unemployment increased by 56,000 to 3.5 million.
6/6/2021: in June 2021: May`s national unemployment rate decreased to 5.8% (down 0.3%) - 2.3% higher than the lowest pre-COVID-19 unemployment level. US economy added 559,000 jobs in May of 2021. The US labor force participation rate declined by 0.1% to 61.6%. The real national unemployment rate decreased by -0.3% to 9.9%. There are currently 6.6 million individuals (flat since Apr 2021.) May`s unemployment rate among population segments were as follows: Whites 5.1% (down 0.2%), adult men 5.9% (down 0.2%), adult women 5.4% (down 0.2%), Hispanic 7.3% (down 0.6%), Asian 5.5% (down 0.2%), African American 9.1% (down 0.6%), teenagers 9.6% (down 2.7%.) The weekly national unemployment rate is 2.7%. The new number of claims decreased by 20,000 to 385,000 - the lowest rate since March 2020. The four-week moving average decreased by 30,500 to reach 428,000. Insured unemployment increased by 169,000 to 3.8 million.
5/10/2021: in May 2021 : April`s national unemployment rate increased to 6.1% (up 0.1%) - 2.6% higher than the lowest pre-COVID-19 level. US economy added 266,000 jobs in April of 2021. The US labor force participation rate increased by 0.2% to 61.7%. The real unemployment rate is 10.2%, down 0.1%. There are currently 9.8 million unemployed (increased by 102,000 in April 2021). April`s unemployment rate among population segments were as follows: Whites 5.3% (down 0.1%), adult men 6.1% (up 0.3%), adult women 5.6% (down 0.1%), Hispanic 7.9% (flat), Asian 5.7% (down 0.3%), African American 9.7% (up 0.1%), teenagers 12.3% (down 0.7%.) The weekly national unemployment rate is 2.6%. The new number of claims decreased by 92,000 to 0.5 million - the lowest rate since March 2021. The four-week moving average decreased by 61,000 to reach 560,000. Insured unemployment is flat at 3.7 million.
4/6/2021: in April 2021 : March`s national unemployment rate declined to 6.0% (down 0.2%) - 2.5% higher than the lowest pre-COVID-19 level. US economy added 916,000 jobs in March of 2021. The US labor force participation rate increased by 0.1% to 61.5%. The real unemployment rate is 10.3%, down 0.3%. There are currently 9.7 million unemployed (decreased by -262,000 in March 2021). March`s unemployment rate among population segments were as follows: Whites 5.4% (down 0.2%), adult men 5.8% (down 0.2%), adult women 5.7% (down 0.2%), Hispanic 7.9% (down 0.6%), Asian 6.0% (up 0.9%), African American 9.6% (down 0.3%), teenagers 13.0% (down 0.9%.) The weekly national unemployment rate is 2.7% (flat.) The new number of claims increased by 61,000 to 0.7 million. The four-week moving average is flat at 0.7 million. Insured unemployment is flat at 3.8 million.
3/7/2021: in March 2021 : February's national unemployment rate remains unchanged at 6.2%. The unemployment rate is 2.7% higher than it was before the COVID-19 pandemic in February 2020. US economy added 379,000 jobs in February of 2021. The US labor force participation rate is flat at 61.4%. The real unemployment rate is 10.6%, down 0.1%. There are currently 10.0 million unemployed (decreased by -158,000 since March 2021). February`s unemployment rate among population segments were as follows: Whites 5.6% (down 0.1%), adult men 6.0% (flat), adult women 5.9% (down 0.1%), Hispanic 8.5% (down 0.1%), Asian 5.1% (down 1.5%), African American 9.9% (up 0.7%), teenagers 13.9% (down 0.9%.) The weekly national unemployment rate is 3.0% (down 0.1%.) The new number of claims is flat at 0.7 million. The four-week moving average is flat at 0.8 million. Insured unemployment declined by 0.1 million to 4.3 million.
2/28/2021: in February 2021 : The current weekly US national unemployment rate is 3.1% (down 0.1%.) The department of labor released new guidelines to qualify for Pandemic Unemployment Assistance: 1) Workers receiving unemployment benefits who had their continued regular unemployment benefits’ claims denied after they refused to work or accept an offer of work at a worksite not in compliance with coronavirus health and safety standards, 2) Workers laid off, or who have had their work hours reduced as a direct result of the pandemic, and 3) School employees working without a contract or reasonable assurance of continued employment who face reduced paychecks and no assurance of continued pay when schools are closed due to coronavirus. The new number of unemployment benefits decreased by 111,000 to reach 0.7 million. The four-week moving average fell by 20,500 to 0.8 million. Insured unemployment dropped by 0.1 million to 4.4 million.
2/21/2021: in February 2021 : The current US weekly national unemployment rate is 3.2% (flat week-over-week.) President Joe Biden is trying to pass his $1.9 trillion COVID-19 relief package, while more than 18.3 million Americans are still unemployed, and the economy is struggling to gain momentum. The US Federal Reserve analysis indicates early signs of economic recovery, although it recognizes that the job market is badly damaged. But it is not all that bad. The pandemic forced many white-collar employees to work from home, driving up demand for housing. This stimulates the creation of blue-collar jobs. Homebuilders are actively looking for new employees to extend their construction teams. Demand is growing for fork-lift operators, warehouse workers, and truck drivers to enable e-commerce. This trend will continue after the pandemic is over. Unlike after the great recession, white-collar Americans have money and are desperate to spend it on travel and entertainment after the pandemic's boredom. This could result in a new economic boom with more job openings than available workers. Extended unemployment benefits are currently available in 20 states and will phase out as the unemployment rate falls. The new number of unemployment claims increased by 13,000 to reach 0.9 million, mostly due to job losses in IL, CA, and VA. The four-week moving average decreased by 3,500 to 0.8 million. Insured unemployment fell by 64,000 to reach 4.5 million.
2/7/2021: in February 2021 : January's national unemployment rate decreased to 6.3% (down 0.4%.) The unemployment rate is 2.8% higher than before Coronavirus's lowest point in February 2020. US economy added 49,000 jobs in January 2021: Professional Services +97,000, Government +43,000, Information Services +16,000, Wholesale +14,000, Mining +9,000, Financial Services +8,000, and Other +7,000, partially offset by job losses in Construction -3,000, Healthcare -7,000, Manufacturing -10,000, Transportation -28,000, Retail -38,000, and Hospitality -61,000. January's hourly rate is $29.96 - an increase of 6 cents, with the highest increase of +47 cents in Retails and the largest decrease of -17 cents in Healthcare. The US labor force participation rate decreased to 61.4% (-0.1%.) The real unemployment rate is 10.7%, down 0.6%. There are currently 10.1 million unemployed (down 0.6 million.) January`s unemployment rate among population segments were as follows: Whites 5.7% (down 0.3%), adult men 6.0% (down 0.4%), adult women 6.0% (down 0.3%), Hispanic 8.6% (down 0.7%), Asian 6.6% (up 0.7%), African American 9.2% (down 0.7%), teenagers 14.8% (down 1.2%.) The weekly national unemployment rate is 3.2% (decreased 0.2% week-over-week.) The new number of claims fell by 33,000 to 0.8 million. The four-week moving average is flat at 0.8 million. Insured unemployment declined by 0.2 million to 4.6 million.
1/31/2021: in January 2021 : The current weekly US national unemployment rate is 3.4% (down 0.1%.) The $1.9 trillion American Rescue Plan will require a simple majority of 51 votes to pass. Democrats are ready to push forward the bill this week. Republicans are bargaining for a much smaller $0.6 trillion package with a stimulus check income cap of $50,000. Both Republican and Democrat senators seem to agree to pass the bill quickly to help struggling American families, create new jobs, and improve unemployed workers' lives. In the meantime, some states no longer qualify for a federal extension. For example, LA since its unemployment rate dropped to 7.2% in Dec 2020. Jan 2021 job growth and unemployment rate are expected to show positive changes and early signs of economic recovery. Currently, about 1.5% of the US population are completely immunized. The adequate population vaccination will likely be reached by the end of summer 2021, with a robust economy reopening in the 3rd quarter of 2021. Vaccination doesn't prevent people from contracting COVID-19 but eliminates severe cases and deaths. 2020 marks the worst GDP decline since WWII. The new number of unemployment benefits declined by 67,000 applications to reach 0.8 million. The four-week moving average rose by 16,250 to 0.9 million. Insured unemployment dropped by 0.2 million to 4.8 million.
1/24/2021: in January 2021 : The current US weekly national unemployment rate is 3.6% (down 0.1%.) Thousands of Americans die from the COVID-19 virus every day. Weekly unemployment claims are at a historically high level. Millions of workers are unemployed with no end to the pandemic in sight. House will commence discussing the $1.9 trillion American Rescue Package on Feb 1. Still, it is already under pressure of reduction, and approval will not come sooner than the end-of-February to mid-March. The bill will include: 1) One-time stimulus check of $1,400 per person, 2) Increased Federal Unemployment Extension of $400 per week, 3) PUA (Pandemic Unemployment Assistance) of $100 per week for up to 50 weeks for self-employed individuals, and 4) PEUC (Pandemic Emergency Unemployment Compensation) for up to 24 weeks. 46 states have already started issuing $300 per week checks. OK and KS will begin issuing money on Jan 25, CO on Feb 1, AR in mid-Feb. There will be no retroactive bulk payments for $300 per week checks. If you run out of benefits, resubmit your state claim ASAP. This Week: The new number of unemployment benefits claims decreased by 26,000 to reach a total of 0.9 million this week. The four-week moving average rose by 23,500 to 0.8 million. Insured unemployment fell by 127,000 to reach 5.1 million.More news
1/17/2021: in January 2021 : President-elect Biden unveiled a $1.9 trillion unemployment package - American Rescue Plan, which will run until Sep 2021 and include: 1) 6-month of extended federal unemployment benefits of $400/week - this should top-up the current $300/week, 2) Stimulus check for struggling families - the amount is currently unknown, 3) Eviction and Foreclosure moratorium extension, 4) Supplemental Nutrition Assistance Program - food stamps, and 5) PUA and PEUC - $100/week for self-employed. There will be no additional benefits or measures beyond those already in effect. Over 18 million jobless Americans are currently collecting unemployment benefits. The current US weekly national unemployment rate is 3.7% (up 0.2%.) The new number of unemployment claims increased by 0.2 million to reach 1.0 million, mostly due to job losses in LA, KS, and TX. The main factors driving this development are mounting COVID-19 cases and the rapidly deteriorating US economy. The four-week moving average increased by 18,250 to 0.8 million. Insured unemployment rose by 0.2 million to reach 5.3 million. PUA weekly claims increased by 123,311 to reach 284,470. PEUC continued weekly claims decreased by -0.3 million to 4.2 million. Extended Benefits (EB) continued weekly claims increased by +0.4 million to 1.3 million.
1/10/2021: in January 2021 : December's national unemployment rate remains unchanged at 6.7%. This is a second wave of the US economic slowdown due to the COVID-19 pandemic. The unemployment rate is 3.2% higher than it was just before Coronavirus' lowest point in February. US economy lost 140,000 jobs in December of 2020: Hospitality -459,000, Healthcare -38,000, Government -31,000, Other services -22,000, partially offset by Professional Services +203,000, Retail +139,200, Manufacturing +56,000, and Construction +53,000. December's hourly rate is $29.81 - an increase of 23 cents, mainly due to a significant number of low-paid Hospitality workers leaving the workforce and skewing the US employment mix. The US labor force participation rate is flat at 61.5%. The real unemployment rate is 11.3%, up 0.2%. There are currently 10.7 million unemployed (no change since November). December`s unemployment rate among population segments were as follows: Whites 6.0% (up 0.1%), adult men 6.4% (down 0.3%), adult women 6.3% (up 0.2%), Hispanic 9.3% (up 0.9%), Asian 5.9% (down 0.8%), African American 9.9% (down 0.4%), teenagers 16.0% (up 2.0%). The weekly national unemployment rate is 3.5% (flat week-over-week.) The new number of claims is flat at 0.8 million. The four-week moving average is flat at 0.8 million. Insured unemployment declined by 0.1 million to 5.1 million.
1/3/2021: in January 2021 : Up to 26 million US workers remain severely affected by the Coronavirus pandemic. US government has begun sending the one-time $600 stimulus checks. As per the US Labor Department, American workers impacted by the COVID-19 pandemic may start receiving a $300/week supplemental payment as early as today, Jan 3. This program will run for up to 11 weeks and supplement regular state unemployment benefits. The PUA program created to support small business owners who would not qualify for traditional UI benefits will also receive additional 11 weeks of $100/week pay. The PEUC program designed to extend regular UI benefits when they become depleted will now give additional 24 weeks. The current US weekly national unemployment rate is 3.6% (flat.) The new number of unemployment claims decreased by 19,000 to reach a total of 0.8 million. The four-week moving average is flat at 0.8 million. Insured unemployment declined by 0.1 million to reach 5.2 million.
12/27/2020: in December 2020 : Today Trump signed a $900 billion COVID-19 relief package. It includes a $600/person one-time stimulus check, extended federal unemployment benefits of $300/week, and funding for food stamps. The $600/person stimulus check is unlikely to convert into a $2,000/person payout. The home eviction moratorium has also been extended by one month. This new stimulus program is scheduled to expire in 11 weeks. The current US weekly national unemployment rate is 3.6% (down 0.2%.) The new number of unemployment claims decreased by 89,000 to reach a total of 0.8 million. The four-week moving average is flat at 0.8 million. Insured unemployment declined by 0.2 million to reach 5.3 million.
12/20/2020: in December 2020 : The current US weekly national unemployment rate is 3.8% (down 0.1%.) Congress passed a $900 billion COVID-19 economic relief package. This is the second-largest financial relief package in US history. It will replace the $300/week check expiring on December 26 for 12 million Americans affected by Coronavirus. The extended benefits will consist of: 1) up to $600/person stimulus check, which depends on family size and income, 2) extended federal unemployment benefits up to $300/week, 3) self-employed individuals will qualify for $100/week pay, and 4) Supplemental Nutrition Assistance Program (food stamps.) This new program will commence on December 27, 2020. This new COVID-19 relief package is designed to resemble the original CARES Act. It will cover up to 11 weeks of additional benefits and expire on March 14, 2021. The home eviction moratorium has been extended by one month. A further funding round of COVID-19 relief for local businesses in the form of the Paycheck Protection Program and small business grants has also been extended. The new number of unemployment claims increased by 23,000 to reach a total of 0.9 million. The four-week moving average increased by 34,250 to 0.8 million. Insured unemployment declined by 0.3 million to reach 5.5 million.
12/13/2020: in December 2020 : The current US weekly national unemployment rate is 3.9% (up 0.1%.) Extended unemployment benefits have been a lifeline for millions of unemployed Americans. 12 million workers will lose their $300/week benefits on Dec 26 if Congress doesn't pass a new bill. Eviction Moratorium programs will lapse too. All attempts of lawmakers to find a compromise failed. Even in the most optimistic scenario, there is not enough time to reinstate the failing benefits by the end of 2020. SNAP and TANF programs may remain the only options available for Americans impacted by COVID-19 in 2021. As per official statistics, almost 5% of the US population has been infected with Coronavirus. At the current COVID-19 infection rate, the epidemic in the US will be over by summer 2021. The death toll might reach 0.5-0.8 million Americans by that time. The vaccine is unlikely to significantly accelerate the end of the COVID-19 pandemic but may reduce the mortality rate. 3 million doses of the new Pfizer vaccine were shipped to all 50 states today. US population vaccination will commence this Monday, Dec 14. Ramping up vaccine production and distribution to achieve a meaningful scale may take many months and will likely coincide with the pandemic's natural end. The new number of unemployment claims increased by 137,000 to reach a total of 0.9 million, mostly due to a new wave of job losses in NV, CA, IN, and IL. The four-week moving average increased by 35,500 to 0.8 million. Insured unemployment rose by 0.2 million to reach 5.8 million.
12/4/2020: in December 2020 : November's national unemployment rate decreased by 0.2% to 6.7%, manifesting a slowdown in economic recovery due to the growing number of COVID-19 cases. The rate improved 8.0% from the peak in April, but it is still 3.2% higher than it was at the historically lowest point in February. US economy added 245,000 jobs in November of 2020: +145,000 in Warehousing, +162,000 Misc Services, +60,000 Healthcare, +54,000 Healthcare, +66,000 Manufacturing, +31,000 Hospitality, +27,000 Manufacturing, +27,000 Construction, partially offset by losses -99,000 in Government and -35,000 in Retail. November's hourly rate is $29.58 - an increase of 9 cents since last month and up +4.4% in the past 12 months. The US labor force participation rate declined by -0.2% to 61.5%. The real unemployment rate is 11.1%, down 0.1% in November. There are currently 10.7 million unemployed (decreased by -326,000 since October 2020). November`s unemployment rate among population segments were as follows: Whites 5.9% (down 0.1%), adult men 6.7% (flat), adult women 6.1% (down 0.4%), Hispanic 8.4% (down 0.4%), Asian 6.7% (down 0.9%), African American 10.3% (down 0.5%), teenagers 14.0% (up 0.1%). The weekly national unemployment rate is 3.8% (-0.4% week-over-week.) The new number of claims decreased by 75,000 to 712,000. The four-week moving average is flat at 0.7 million. Insured unemployment declined by 0.6 million to 5.5 million.
11/29/2020: in November 2020 : The current weekly US national unemployment rate is 4.1% (down 0.2%.) Yet this number doesn't tell the whole story. Growing Coronavirus infections are mounting pressure on unemployed individuals and shattering small businesses. Late COVID-19 restrictions imposed by local governments prompt new economic concerns. The number of weekly claims has been steadily going up throughout November. HI and NV have the highest unemployment of 14.3% and 12.0%, respectively. Personal earnings decreased by 0.7%. Democrats are not open to any trade-off on a $2.4 trillion CARES Act extension and burned all bridges in negotiations with Republicans. Chances for Emergency Unemployment benefits to be extended in December at this point are remote to none. Republicans are willing to approve a substantially smaller $0.5 trillion package. With all of the above, a double-dip recession appears to be a likely scenario. Economists expect negative GDP growth in the first quarter of 2021, while some forecast an overall decline throughout 2021. The new number of unemployment benefits rose by 30,000 to reach 0.8 million. The four-week moving average is flat at 0.7 million. Insured unemployment dropped by 0.3 million to 6.1 million.
11/22/2020: in November 2020 : The current US weekly national unemployment rate is 4.3% (down 0.3%.) CARES Act extension is stuck solid in Congress while Coronavirus cases are surging. Pandemic Unemployment Assistance (PUA) and Pandemic Emergency Unemployment Compensation (PEUC) will expire on Dec 26, leaving 12 million Americans with no jobs and no financial support. This holiday season will bring stress and hunger instead of joy to many kids and their parents. State unemployment rates are on the decline, which may disqualify many states from receiving Extended Benefits - this is what happened in Virginia on Nov 21. Buried in declining unemployment numbers are minorities and depressed industries with no sign of improvement in sight. The current Federal Unemployment Insurance Extended Benefits qualification criteria are outdated and no longer reflect the US economy's complexity and long-term unemployment consequences. 68 million or 4 out of 10 working Americans applied for unemployment since the beginning of the COVID-19 pandemic. Over 12 million (4% of Americans) have been infected with COVID-19, and more than 250,000 have died. The new number of unemployment benefits claims rose by 31,000 to reach a total of 0.7 million - an unexpected and disappointing increase. The four-week moving average fell by 13,750 to 0.7 million. Insured unemployment decreased by 0.4 million to reach 6.4 million.
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11/15/2020: in November 2020 : The current US weekly national unemployment rate is 4.6% (down 0.3%.) Approximately 67 million Americans filed for unemployment since the beginning of the Coronavirus pandemic. Blazing COVID-19 cases prompt more business shutdowns and an overall poor job market outlook for the remainder of 2020. PEUC, PUA, and Eviction Moratorium programs will expire by the end of this year, leaving 14 million unemployed Americans without a roof over their heads and no income. There are no updates on the CARES Act extension at the moment. As per the latest US Census Bureau survey, 24 million Americans now experience food insecurity, and 4.7 million expect to be evicted. COVID-19 hurts people and the economy, but so far, only 3.3% of the US population is immune - it is a long way to reach herd immunity of at least 70% population resistant to the virus. The vaccine might be the only real alternative. The new number of unemployment claims decreased by 48,000 to reach a total of 0.7 million, mostly due to job recovery in NV and OH. The four-week moving average decreased by 33,000 to 0.8 million. Insured unemployment declined by 0.4 million to reach 6.8 million.
11/8/2020: in November of 2020 : October's national unemployment rate decreased by 1.0% to 6.9%. US economy is healing fast and well. We expect to see some progress in the CARES Act this week. US Employers added 638,000 new jobs: +0.3 million in Hospitality, +0.2 million Business Services, +0.1 million Retail, +0.1 million Construction, +0.1 million Transportation, +0.1 million Healthcare, offset by -0.3 million job loss in all levels of US government. New unemployment rates among Whites 6.0% (down 1.0%), Hispanic 8.8% (down 1.5%), Asian 7.6% (down 1.3%), African American 10.8% (down 1.3%), Teenagers 13.9% (-2.0%) - the most impacted demographic. October's hourly rate is $29.50 - an increase of 4 cents since last month and up +4.5% in the past 12 months. The US labor force participation rate slightly rose by +0.3% to 61.7%. Weekly Update: Weekly national unemployment rate is 5.0% (-0.3% decrease week-over-week.) The new number of claims are flat at 0.8 million. The four-week moving average is also flat at 0.8 million. Insured unemployment declined by 0.5 million to 7.3 million.
11/1/2020: in November of 2020 : The current US weekly national unemployment rate is 5.3% (down 0.4%.) The Bureau of Economic Analysis released US 3rd quarter annualized economic indicators: GDP +33.1%, Consumer Price Index +3.6%. Still, the $300 per week unemployment extension is on its final straw. President Trump promised "a tremendous stimulus package" immediately after the election. There is no other development on the CARES Act stimulus checks front. COVID-19 vaccine will be ready by January at the earliest. Vaccination might take another year. All this time, millions of unemployed Americans need unemployment extension. Most American workers believe that being unemployed would undermine their credibility and significantly reduce their chances of getting hired. A recent study tells a different story: the vast majority of hiring managers would hire if a job was lost due to COVID-19. Current high demand jobs include software development, financial analytics, data management, and project management. Many of these roles require no university degree. The new number of unemployment benefits applications decreased by 40,000 to 751,000. The four-week moving average fell by 24,000 to 787,750. Insured unemployment dropped by 0.7 million to reach 7.8 million.
10/25/2020: in October of 2020 : The current US weekly national unemployment rate is 5.7% (down 0.7%.) After the CARES benefits expiration, the income gap between unemployed Black and other Americans keeps on growing. In the past 2-3 weeks, many unemployment improvements happened due to the temporary unemployment applications freeze in California and not because of improvements in the US economy. Also, an increasing number of unemployed no longer qualify for state benefits and fall back on federal extended benefits. Despite all of the above, unemployment claims are still higher than during the peak of the great recession. After going through layoffs, many workers decided to upgrade their skills and move to other, more reliable occupations, such as software development and tech support. In the post-COVID-19 world, industries such as retail may find it challenging to find employees. A new study concluded that by the end of 2020, about 1.5 million families would be 3-6 months behind on rental payments. Unless the CARES act is extended soon, a chain of bankruptcies may further undermine the US economy. This Week: The new number of unemployment benefits claims decreased by 55,000 to reach a total of 0.8 million. The four-week moving average fell by 21,500 to 0.8 million. Insured unemployment decreased by 1.0 million to reach 8.4 million.
10/18/2020: in October of 2020 : The current US weekly national unemployment rate is 6.8% (down 0.9%.) As of today, the US has recorded 8.2 million COVID-19 cases, and 220,000 people have died. COVID-19 pandemic disproportionately kills and destroys the lives of the poor, minorities, and women. As millions of low-income American families struggle to put food on their tables, charities that used to offset this situation face their own challenges - charitable donations on a steep decline. There is currently no good news in the area of the CARES Act extension. 8 million workers slipped into poverty and joined 47 million officially poor Americans since the beginning of the coronavirus pandemic. Also, identity theft and unemployment benefits fraud are on the rise once again. The Indiana State Police is in the midst of a large and complex unemployment insurance fraud investigation. The new number of unemployment claims increased by 53,000 to reach a total of 0.9 million, mostly due to job losses in IN, IL, and MA. The four-week moving average is flat at 0.9 million. Insured unemployment declined by 1.2 million to reach 10.0 million, of which 4.0 million are now considered permanent job losses.
10/11/2020: in October of 2020 : There will likely be no stimulus deal or Lost Wages Assistance program extension until the November 2020 election. Although there are encouraging discussions about helping airlines, businesses, and laid-off workers with a $2 trillion stimulus package. The overall consensus is that COVID-19 will not be defeated until at least the fall of 2021. Economists predict unemployment recovery will take even longer, a whopping 3-4 years. Unlike during the great recession, with men were slammed harder than women, the COVID-19 recession hits women the hardest. FEMA approved the latest LWA grant for Puerto Rico on October 7. Last Week: Weekly national unemployment rate is 7.5% (-0.7% week-over-week.) The new number of claims is flat at 0.8 million. The four-week moving average is flat at 0.9 million. Insured unemployment declined by 1.0 million to 11.0 million.
10/4/2020: in October of 2020 : September's national unemployment rate decreased by 0.5% to 7.9%, indicating a slowdown in economic recovery in the throes of the COVID-19 pandemic. US Employers added 0.7 million jobs: +318,000 in Hospitality, +162,000 Misc Services, +142,000 Retail, +74,000 Warehousing, +66,000 Manufacturing, +40,000 Healthcare, partially offset by losses -216,000 in Government. September's hourly rate is $29.47 - an increase of 2 cents since last month (a meager increase) and up +4.7% in the past 12 months. The US labor force participation rate declined by -0.3% to 61.4%. The real unemployment rate is 12.4%, down 0.4% in September. The airline industry started massive layoffs due to the expiration of the CARES Act payroll support program. US House leader Pelosi urges airlines to wait as more funding will be provided. While California decided to implements unemployment claim fraud prevention technology. Last Week: Weekly national unemployment rate is 8.1% (-0.6% week-over-week.) The new number of claims decreased by 36,000 to 837,000. The four-week moving average is flat at 0.9 million. Insured unemployment declined by 1.0 million to 11.8 million.
9/27/2020: in September of 2020 : The current US weekly national unemployment rate is 8.6% (down 0.1%.) Recovery remains slow - 825,000 applied for unemployment this week. At this point, it is expected the COVID-19 situation will normalize by fall 2021. US states with the lowest unemployment rate: NE at 4.0% (2.3% historically lowest), UT at 4.1% (2.4% lowest), ID at 4.2% (2.5% lowest), SD at 4.8% (lowest 2.4%), and VT at 4.8% (lowest 2.3%.) US States with the highest unemployment rate: CA 11.4% (lowest 3.9%), HI 12.5% (lowest 2.2%), NY 12.5% (lowest 3.7%), RI 12.8% (lowest 3.0%), and NV (lowest 3.6%.) The new number of unemployment benefits is flat at 0.9 million. The four-week moving average decreased by 35,000 to 0.9 million. Insured unemployment dropped by 0.2 million to reach 12.6 million.
9/20/2020: in September of 2020 : The current US weekly national unemployment rate is 8.6% (down 0.7%.) Employment growth is still very weak. Black unemployment rates remain second-highest only behind teenagers. Fed Chair Jerome Powell declared that he expects interest rates to stay low for the foreseeable future. A new study conducted by BUSPH confirmed a severe COVID-19 impact on depression that increased among adults in 2020 from historical ~9% to ~28%. Personal financial health is to blame, among other reasons. Another recent survey conducted by Credit Karma found that Americans accumulated a staggering $45B worth of medical bills currently in collection, while many more face evictions from their homes. Yet Goldman Sachs estimated a less than 50% chance that Congress will approve the new stimulus package and CARES Act Extension before the end of September. It is quite unfortunates since COVID-19 cases are on the rise in at least 25 states, and 200,000 Americans are dead because of Coronavirus. This Week: The new number of unemployment benefits claims decreased by 33,000, to reach a total of 0.9 million. The four-week moving average fell by 61,000 to 0.9 million. Insured unemployment decreased by 0.9 million to reach 12.6 million.
9/13/2020: in September of 2020 : The current US weekly national unemployment rate is 9.2% - down 0.1% since the previous week. The highest unemployment rates are in HI 20.3%, NV 16.0%, NY 14.9%, CA 14.8%, and CT 14.7%. The Senate disappointed Americans once again when it was unable to advance the coronavirus relief bill. Hence an extension of the CARES Act is unlikely to get approved by Congress before October or even November. A temporary COVID-19 unemployment extension of $300/week approved by Trump has been increased to 6 weeks. All US states are authorized to adopt Trump's benefit extension program, but only 1/3 chose to use FEMA funds. Weekly Update: The new number of unemployment benefits claims is flat at 0.9 million. The four-week moving average fell by 22,000 to 1.0 million. Insured unemployment rose by 0.1 million to reach 13.4 million.
9/7/2020: in September of 2020 : August's national unemployment rate decreased by 1.8% to 8.4% beating the most optimistic forecasts. This may further delay and reduce Pandemic CARES pay. 25% of all workers are still working from home. New unemployment rates among Whites 7.3% (down 1.9%), Hispanic 10.5% (down 2.4%), Asian 10.7% (down 1.3%), African American 13.0% (down 1.6%), Teenagers 16.1% (-3.2%) - the most impacted demographic. US Employers added 1.4 million jobs: +0.3 million in Government, +0.2 million Retail, +0.2 million Professional Services, +0.2 million Hospitality, +0.1 million Healthcare, +0.1 million Transportation, +0.1 million Other Services, +36,000 Financial Services, +29,000 Manufacturing, +16,000 Construction, +15,000 Information Services, +14,000 Wholesale. The government added almost 25% of all jobs. August's hourly rate is $29.47 - an increase of 11 cents since last month and up +4.7% in the past 12 months. The US labor force participation rate slightly declined by -0.3% to 61.7%. Last Week: Weekly national unemployment rate is 9.1% (-0.8% week-over-week.) The new number of claims decreased by 0.13 million to 0.9 million. The four-week moving average decreased by 0.1 million to 1.0 million. Insured unemployment declined by 1.2 million to 13.3 million.
8/30/2020: in August of 2020 : The current US weekly unemployment rate is 9.9% (down 0.2%.) More than 58 million American workers applied for unemployment benefits for the first time since the beginning of the COVID-19 lockdown 23 weeks ago. A temporary unemployment situation slowly turns into a permanent state with potentially many years to recover. The unemployment rates among population segments are 9.2% for Whites, 12.0% Asians, 12.9% Hispanics, 14.6% African Americans, and 19.3% for teenagers - most affected by unemployment across all demographics. It has been more than one month since the $600/week Pandemic Emergency Unemployment Compensation (PEUC) benefits expired. President Trump authorized the Federal Emergency Management Agency (FEMA) to hand out money to states while the stimulus package is getting approved. Florida intends to apply for these emergency funds. The new number of claims decreased by 0.1 million to 1.0 million. The four-week moving average decreased by 0.1 million to 1.1 million. Insured unemployment declined by 0.2 million to 14.5 million.
8/23/2020: in August of 2020 : The current US weekly national unemployment rate is 10.2% (down 0.4%.) The new CARES pay of $400 for millions affected by COVID-19 Americans is $300 in many states. Unfortunately, despite many promises, it will not become available for many weeks until the Senate returns on September 7. In these dire circumstances, it feels unethical that senators are on vacation, while many Americans struggle to put food on their table. Since the beginning of the Corinavirus outbreak, 57.3 million Americans filed unemployment claims - the number hasn't been seen since the 1982 recession. US states with the highest unemployment rates are MA 16.1%, NY 15.9%, and NV 14.0%. COVID-19 new cases trend high in FL and GA. The new number of unemployment claims increased by 135,000 to reach a total of 1.1 million, mostly due to more layoffs in RI, CA, and NJ. The four-week moving average decreased by 79,000 to 1.2 million. Insured unemployment declined by 0.6 million to reach 14.8 million.
8/16/2020: in August of 2020 : The current weekly unemployment rate is 10.6% - down 0.4%. This rate is equal to the peak rate during the Great Recession. President Trump asked the Treasury secretary to dispense the second Coronavirus Aid, Relief, and Economic Security (CARES) Act cheque of up to $3,400 for a family of 4 individuals. There is also an additional $400/week payment on the way. The duration of this benefit extension is currently unknown, but it will likely be available to all 28 million unemployed Americans who currently receive at least $100 per week. AZ and some other states will start processing $400/week payments this week, retroactively for funds owed from July 26. Please contact your unemployment office to confirm if this includes your state. The new unemployment benefit claims declined by 0.2 million, to reach a total of 1.0 million mainly to new jobs in FL, NY, and GA. The four-week moving average decreased by 0.1 million to 1.3 million. Insured unemployment fell by 0.6 million to reach 15.5 million.
8/9/2020: in August of 2020 : July's national unemployment rate decreased by 0.9% to 10.2%. US Employers added 1.8 million jobs: +0.6 million in Hospitality, +0.3 million Service, +0.3 million in Government, +0.3 million Retail, +0.2 million Healthcare, +38,000 in Transportation, +26,000 and +20,000 in Construction, while IT lost -15,000, Mining -7,000 and Wholesale -5,000 jobs. July's hourly rate is $29.39 - an increase of 7 cents since last month (a very typical historical rate) and up +4.8% in the past 12 months. The US labor force participation rate slightly declined by -0.1% to 61.4%. US July job gains exceeded the forecast of 1.4 million. There is a lot of positive energy inside the small business community and the Small Business Optimism Index at its highest since the beginning of the COVID-19 outbreak in February. On August 8, President Trump signed an executive order to provide economic relief by authorizing the federal government to pay $300/week and state governments an additional $100/week for combined $400/week in extended unemployment benefits. Last Week: Weekly national unemployment rate is 11.0% (-0.6% week-over-week.) The new number of claims decreased by 0.25 million to 1.2 million, mostly due to fewer layoffs in FL, CA, VA, TX, and GA. The four-week moving average is flat at 1.3 million. Insured unemployment declined by 0.8 million to 16.1 million.
8/4/2020: in August of 2020 : The current US weekly national unemployment rate is 11.6% (+0.5% since last week.) US Bureau of Economic Analysis released the Q2 2020 GDP data showing a significant decrease of 32.9% in economic activity. It is much higher than the anticipated decline of 25% and Q1 2020 loss of 5.0%. Now we can officially call it the COVID-19 Recession. There is currently no positive news on the CARES Act and $600 per week extended benefits. This will cost more lives and cause long-term economic hardship for a significant group of the American population. It is time to contact your elected representative and give a helping hand to your less fortunate friends and neighbors. Since Last Week: There is no significant change in the number of unemployment claims - flat at 1.4 million. The four-week moving average is also flat at 1.4 million. Insured unemployment rose by 0.9 million to reach 17.0 million.
7/27/2020: in July of 2020 : The current US weekly national unemployment rate is 11.1%. Enhanced Unemployment Benefits of $600 per week expired last Friday, Jul 24. This week will be critical for Congress to pass a considerably reduced bill to ensure millions of Americans continue to receive enhanced benefits. This bill will also likely extend the eviction moratorium that shields 20+ million jobless from losing their homes. On Sunday, Treasury Secretary Steven Mnuchin announced that Senate Republicans are planning to release the GOP bill. This $1 trillion COVID-19 relief bill was proposed today, Monday, July 27. It includes another $1,200 payment, supplementary school funding, and a short-term extended benefits extension that slashed weekly payments from $600 to $200. White House is behind the reduction of the Enhanced Unemployment Benefits. This week will be critical since when the GOP bill is in place, it might be challenging to return extended benefits to $600/week level. The new number of unemployment benefits claims increased by 109,000, to reach a total of 1.4 million. Job losses took place in CA, IL, and NH in the service industry. The four-week moving average decreased by 16,500 to 1.4 million. Insured unemployment dropped by 1.1 million to reach 16.2 million.
7/19/2020: in July of 2020 : The current US weekly national unemployment rate is 12.2%. The highest unemployment rates are in MA 17.4%, NJ 16.6%, NY 15.7%, NV 15.0%, and CA 14.9%. The lowest national unemployment rates are in KY 4.3%, UT 5.1%, ID 5.6%, ND 6.1%, ME 6.6%, and OK 6.6%. Fifty-one million jobless Americans applied for benefits in the past 17 weeks since President Trump declared the COVID-19 emergency. A recent survey determined that almost 70% of all Americans need an extension of the CARES Act, at least until the end of 2020, to survive the rest of the year. About 20% of the workforce strongly believe that the second stimulus payment amount should be greater than $600. Only about 1/3 of the US workforce thinks they are better off now. The overall sentiment of not extending a $600 per week unemployment check is that it would result in catastrophic consequences. Although many Americans believe benefits will not be extended. The new number of unemployment benefits claims decreased by 10,000, to reach a total of 1.3 million. The four-week moving average fell by 60,000 to 1.4 million. Insured unemployment dropped by 0.4 million to reach 17.3 million.
7/12/2020: in July of 2020 : The current weekly unemployment rate is 12.4%. The US recession will be recognized officially only after the Q2 2020 GDP announcement later this month. Economists forecast that GDP will decline by approximately -15% and grow +5% in Q3 2020, making it the fastest recession in US history. As a result, Real GDP growth in the US in 2020 will be slightly negative, but will fully recover in 2021. The CARES Act that extended unemployment benefits by $600/week will expire in July. 110 Congressmen signed a letter urging President Trump to continue COVID-19 benefits until the end of 2020. With this supplemental payment, up to 2/3 of all jobless are better off financially than while employed, and ~20% doubled their income. Nonetheless, the coronavirus situation is still far from being under control, and the government may not have another choice but to extend the benefits. The new unemployment benefit claims declined by 0.1 million, to reach a total of 1.3 million. The four-week moving average decreased by 0.1 million to 1.4 million. Insured unemployment fell by 0.7 million to reach 18.1 million.
7/5/2020: in July of 2020 : June's national unemployment rate decreased by 2.2% to 11.1%. US Employers added 4.8 million jobs: +2.1 million in Hospitality, +0.7 million Retail, +0.7 million in Services, +0.6 million Healthcare, +0.4 million Manufacturing, +0.2 million in Construction, and +0.2 million in Wholesale, while Mining jobs declined by -10,000. June's hourly rate is $29.37 - a decrease of 35 cents since last month and up +5.0% in the past 12 months. The US labor force participation rate rose by +0.7% to 61.5%. Improvements in the US economy exceeded expectations, but analysis of late-June and early-July coronavirus cases suggests that improvements might be temporary. Since the declaration of the COVID-19 emergency, almost 49 million Americans applied for jobless benefits. Economists expect a turbulent economic situation until a COVID-19 vaccine is available. The new number of claims decreased by 0.6 million to 1.4 million, mostly due to fewer layoffs in AZ, OH, and NY partially offset by layoffs in PA, NV, and FL. The four-week moving average decreased by 0.1 million to 1.5 million. Insured unemployment declined by 60 thousand to 19.3 million.
6/28/2020: in June of 2020 : The current US weekly national unemployment rate is 14.1%. The highest unemployment rates are in NV at 25.4%, HI 22.7%, and MI 21.2%. The lowest national unemployment rates registered in NE at 5.2%, UT 8.5%, and WY 8.8%. The jobless rate for employees of age 65+ holding skilled jobs is at 13.2%, mainly due to a high proportion of jobs not conducive to telecommute. Yet the overall situation shows some glimmer of hope as unemployment numbers are slowly improving. An additional $600 per week in unemployment benefits authorized by the CARES Acis scheduled to expire on July 31. Unless Congress approves an extension, joblessness benefits will decrease to a regular $400 per week prescribed by individual states. In all situations, when you need help with your unemployment benefits, we strongly recommend getting in touch with your closest unemployment office. Never share your SSN or any other personal information with anyone besides your unemployment office. The new number of unemployment benefits claims decreased by 58,000, to reach a total of 1.5 million. The most significant job gains took place in FL, TX, and GA across a broad range of industries. The four-week moving average decreased by 235,000 to 1.8 million. Insured unemployment dropped by 62,000 to reach 20.5 million.
6/21/2020: in June of 2020 : The current US weekly national unemployment rate is 14.1%. The highest unemployment rates are in NV at 25.4%, HI 22.7%, and MI 21.2%. The lowest national unemployment rates registered in NE at 5.2%, UT 8.5%, and WY 8.8%. The jobless rate for employees of age 65+ holding skilled jobs is at 13.2%, mainly due to a high proportion of jobs not conducive to telecommute. Yet the overall situation shows some glimmer of hope as unemployment numbers are slowly improving. An additional $600 per week in unemployment benefits authorized by the CARES Acis scheduled to expire on July 31. Unless Congress approves an extension, joblessness benefits will decrease to a regular $400 per week prescribed by individual states. In all situations, when you need help with your unemployment benefits, we strongly recommend getting in touch with your closest unemployment office. Never share your SSN or any other personal information with anyone besides your unemployment office. The new number of unemployment benefits claims decreased by 58,000, to reach a total of 1.5 million. The most significant job gains took place in FL, TX, and GA across a broad range of industries. The four-week moving average decreased by 235,000 to 1.8 million. Insured unemployment dropped by 62,000 to reach 20.5 million.
6/14/2020: in June of 2020 : The current week's insured unemployment rate is 14.4%. Fed's chief Jerome H. Powell warned that economic recovery and returning to normal could be slow and painful. Economists expect the US economy to shrink 6-7% in 2020 but start growing again in 2021 at an annualized rate of up to 5%. Manufacturing created 225,000 new jobs in May 2020 but lost 1.1 million in the past 12 months. Low income and low skill workers are impacted the most by unemployment, while engineering and computer occupations see the lowest unemployment rates in US history. Federal COVID-19 aid programs primarily benefited public companies, hedge funds, and large businesses while left small businesses wondering how to survive on their own. Travel to China advisory remains at Level 4: Do Not Travel. The new unemployment benefit claims declined by 0.36 million, to reach a total of 1.5 million. The four-week moving decreased by 0.29 million to 2.0 million. Insured unemployment declined by 0.34 million to reach 20.9 million.
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*IMPORTANT: Be sure to check with your State for details on your full eligibility requirements, or to begin the voluntary benefits process.
