Weekly Jobless Claims Dip, Still Top 1.8 Million

The economy may be slowly re-opening from the coronavirus pandemic, but people are still out of work. New weekly labor statistics from the federal government says 1.87 million people filed jobless claims for the week ended May 30. That was about 250,000 fewer claims filed from the week period. More than 43 million people have filed claims during the 11-week coronavirus pandemic.

The previous week’s unemployment claim level was revised up by 3,000 from 2.123 million to 2.126 million. The four-week moving average was 2.284 million, a decrease of 324,750 from the previous week’s revised average.

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The nation’s unemployment rate stands at 14.8%, up 0.5% from the previous week.

“It’s a sign that things are not getting as worse as they were before,” said Nick Bunker, economic research director at Indeed Hiring Lab, told The Washington Post. “We have seen a reduction in the pace of people becoming jobless. So that’s positive. But we’re still seeing claims at astronomical levels than what we saw before this crisis.”

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Weekly Jobless Claims: 3.8 Million, Topping 30 Million For the Past Six Weeks

The economic impact from the coronavirus continues to negatively impact employment.

New weekly statistics from the Labor Department reveal more than 3.8 million people filed for unemployment claims for the seven-day period ended April 25. That was down more than 600,000 claims filed during the previous week ended April 18.

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Since the coronavirus pandemic began impacting the economy, more than 30 million people have filed for unemployment benefits.

The government added 15,000 claims to the previous-week period to 4.44 million. Over the past four weeks, an average of 5 million people weekly have filed for benefits. The seasonally adjusted insured unemployment rate was 12.4% through April 18.

The job losses underscore the nation’s economy, which declined 4.8% in the first quarter — the biggest drop since the Great Recession in 2008.

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Another 4.4 Million Americans File Jobless Claims; Unemployment Reaching Great Depression Levels

New statistics from the Labor Department find more than 4.4 million Americans filed jobless claims in the week ending April 18. The tally, which was lower than last week’s revised 5.5 million claims filed, underscores the ongoing impact the coronavirus is having on the economy — and why so many local governments want to re-start business operations.

Indeed, with 22 million jobless claims filed over the previous three weeks, the unprecedented rise in claims since March has driven the unemployment rate near 20% — just 5% less than during the Great Depression in the early 1930s.

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“Today’s unemployment report shows continued, elevated unemployment claims caused by the coronavirus pandemic,” Secretary of Labor Eugene Scalia said in a statement.

Scalia said the federal government would continue assisting states with enhanced unemployment benefits under the CARES Act, with 44 States now paying the $600 additional weekly benefit provided by the Act.

The Department also continues to implement the paid leave requirements of the Families First Coronavirus Response Act, and has now initiated hundreds of cases to ensure workers receive what they’re entitled to under the law.

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“As American businesses look to open up again under the guidelines presented by the White House last week, the Department’s Occupational Safety and Health Administration will continue to provide guidance and support to protect workers and ensure safe workplaces, backed up as necessary by appropriate use of OSHA’s enforcement authorities,” Scalia said.