Erik Gruenwedel
June 25, 2020
The economy is slowly re-opening, but the number of people filing first-time unemployment claims continues to jolt feel-good optimism. In the week ended June 20, 1.48 million people filed claims, a decrease of 60,000 from the previous week’s revised 1.508 million, according to the Labor Department.
California continues to lead all states with more than 1 million claims filed. The total number of people receiving unemployment insurance dropped below 20 million.
Subscribe HERE to the FREE Media Play News Daily Newsletter!
The four-week moving average declined to 1.62 million, a decrease of 160,750 from the previous week’s revised average. The previous week’s average was revised up by 8,000 from 1.773 million to 1.781 million. The advance seasonally adjusted insured unemployment rate was 13.4% for the week ending June 13.
“Initial and continuing claims point to gradual improvement in the labor market. Falling initial claims signal that the pace of layoffs is slowing, but it still extremely high,” Gus Faucher, chief economist at PNC Financial, told CNBC.
Follow us on Instagram
Related Posts
Weekly Unemployment Claims Double to Record 6.6 MillionIn another stunning statistic due to the spread of the coronavirus in the United States, a record 6.6 million Americans filed for unemployment benefits for the week ended March 28, according to new data from the Department of Labor. The…
Weekly Jobless Claims Dip, Still Top 1.8 MillionThe 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…
1.5 Million New Unemployment Claims Filed Last WeekAbove average jobless claims continue with another 1.5 million first-time claims filed through June 6. That compared with more than 1.87 million first-time filers in the previous-week period. More than 44 million people — hundreds of thousands in the entertainment…
Another 3.2 Million Added to Weekly Unemployment RollThe U.S. Department of Labor May 7 said 3.2 million people filed unemployment claims for the week ended May 2. The filings come on top of more than 30 million claims filed over the previous six weeks. The previous week's…
