Stock Market Today The Federal Reserve Minutes confirmed yesterday that there is a strong need for additional stimulus aid package. Traders also believe that there is a strong likelihood that the Fed may need to alter their asset purchase program. This means the Fed may have to either extend their […]
Unemployment
GOP pushes Trump on economic aid amid high unemployment filings
When it comes to weekly unemployment filings, our whole understanding of “normal” flew out the window six months ago. For example, as regular readers know, it was considered a catastrophe during the Great Recession when jobless claims topped 600,000. But in 2020, as the coronavirus pandemic started taking a brutal […]
Could Your Unemployment Benefits Run Out Before New Stimulus Aid Is Passed?
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For the millions of Americans who’ve lost work during the pandemic, finding another job can be a challenge. Of those who are collecting unemployment benefits, the average time out of work is now over five months. Almost one in five has been unemployed for six months or more. For many, […]
Unemployment applications remain high as job market stalls
The number of Americans applying for first-time jobless aid dipped last week but remained at a high level, indicating ongoing woes in the job market. Some 840,000 adults filed initial unemployment claims in the week ended October 3, the Labor Department said Thursday. That figure, adjusted for seasonal variation, was […]
Sluggish Improvement in Unemployment Claims Distorted by California
Initial Claims There has very slight slight improvement in initial claims for six weeks. For the weeks ending August 29, September 5, September 12, September 17, September 26, and October 3 there were 884,000, 893,000, 866,000, 873,000, 849,000, and 840,000 seasonally-adjusted claims respectively according to the Department of Labor. Given […]
Initial unemployment claims remain historically high, as pandemic continues to drag economy
All told, about 25.5 million people are collecting some kind of unemployment insurance. The number of jobless claims have fallen from their peak in the spring, but the rate has slowed in recent months. “The story is, we’ve hit a plateau in unemployment claims,” said Robert Frick, corporate economist at […]
September jobs report: Hiring slowed with just 661,000 jobs added, unemployment rate falls to 7.9%
Hiring across the U.S. slowed sharply in September as employers added 661,000 jobs for the month, the U.S. Labor Department said Friday. The figures fell short of economic forecasts, who had expected about 850,000 new jobs to be created in September. It was the first month since April that net […]
Extra $300 Weekly Unemployment Benefits Are Still Going Out In These States
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If you were out of work, or lost wages, because of the coronavirus pandemic, you may be eligible for a full six weeks of the supplemental $300 weekly unemployment benefits created through President Donald Trump’s executive action. But if you qualify, when—and whether—you get the total $1,800 in federal benefits […]
300 workers hired for call center to help with Hawaii unemployment insurance
© Provided by Honolulu KHNL The state labor director says 200 trained operators will be answering phones from 7:45 a-m to 4:40 p-m Monday through Friday HONOLULU, Hawaii (HawaiiNewsNow) – A new virtual call center for Hawaii unemployment insurance claims launched on Wednesday. “I’m happy to share that $4.92 million […]
Unemployment marches higher in Europe as pandemic grinds on
FRANKFURT, Germany (AP) — Unemployment rose for a fifth straight month in Europe in August and is expected to grow further amid concern that extensive government support programs won’t be able keep many businesses hit by coronavirus restrictions afloat forever. The jobless rate increased to 8.1% in the 19 countries […]
CTDOL announces increase in weekly unemployment benefits, wages for restaurant workers performing more than tipped food service
WETHERSFIELD, Conn. (WTNH) — Connecticut Department of Labor (CTDOL) Commissioner Kurt Westby announced Wednesday an increase to the weekly unemployment benefit allowance along with an increase to the rate of pay for restaurant/food service workers performing more than tipped food service. The new increase for unemployment benefits is $18/week for […]
Next Stimulus Relief Package ‘Can’t Have More’ Enhanced Unemployment Benefits, WH Economic Adviser Says
White House economic adviser Larry Kudlow says he agrees that another large pandemic stimulus relief bill should be pumped into the economy, but Democrats’ nearly $3 trillion proposals are bloated and still include unnecessary unemployment benefits. © Screenshot: CNBC | YouTube White House economic adviser Larry Kudlow says he agrees […]
PA Inmates Paid Thousands In Pandemic Unemployment Scam: AG
HARRISBURG, PA — Dozens of inmates in Pennsylvania prisons have been charged in connection with a large-scale COVID unemployment scam, Attorney General Josh Shapiro announced this week. More than 50 people are charged in connection with the scam, including more than two dozen inmates — one who received more than […]
Good News On Covid-19 Fuels Economic Optimism And Drop In Unemployment Insurance Claims
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Photo by Tonik on Unsplash Topline: If you listen to some of the media pundits, you’d think that the coronavirus pandemic was worsening. While we’re not out of the woods yet, the situation has drastically improved since March and April. Even though infections are growing, hospitalization rates are decreasing and […]
Number of people seeking unemployment insurance still at historically high level
The number of people seeking unemployment aid increased slightly last week to 870,000 nationally, a historically high number that shows that the coronavirus pandemic continues to impact restaurants, airlines, hotels and many other businesses six months after it hit the U.S. © Provided by Boston Herald FILE – In this […]
Dow Jones Volatile on Elevated Unemployment Claims; Nike, Home Depot, and Goldman Sachs Talked Up by Analysts
The number of Americans filing initial jobless claims rose slightly in the week ended Sept. 19 to 870,000, still far above pre-pandemic levels and higher than economists were expecting. The Dow Jones Industrial Average (DJINDICES:^DJI) managed to rise nonetheless on Thursday, up around 0.25% at 11:45 a.m. EDT. The Dow […]
Unemployment diary: I’m a 27-year-old public relations manager in Massachusetts who’s been out of work since March
The Unemployed States of America takes readers deep inside the decimated American workforce. Kally Lavoie is a 27-year-old public relations manager based in Boston, Massachusetts. She left her last job in March for a part-time, remote role in media relations, and was actively looking for public relations positions when COVID-19 […]
Report: California unemployment agency does less with more
FILE – In this March 26, 2020 file photo a man takes a photo of a sign advising that the Employment Development Department is closed due to coronavirus concerns, in San Francisco. A review of California’s unemployment agency has found its productivity level declined despite hiring hundreds of new workers. […]
Arizona veteran seeks unemployment insurance backpay
During the following weeks, the U.S. Army veteran not only lost his income and his apartment but he was diagnosed with stage 4 colon cancer. PRESCOTT, Ariz. — Michael Callas sold cars at a Prescott auto dealership until he was let go on March 28th. During the following weeks, the […]
Social Media Flooded by Unemployment Memes on Modi’s Birthday
(Bloomberg) — Prime Minister Narendra Modi turned 70 on Thursday and his main political opposition, the Indian National Congress party, marked the day by flooding social media with the hashtag #NationalUnemploymentDay to highlight India’s record joblessness amid its worst economic downturn in decades. The hashtag was trending on Twitter […]