Author Topic: Jobless claims drop to 787,000  (Read 129 times)

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Jobless claims drop to 787,000
« on: October 22, 2020, 09:10:55 AM »
Jobless claims drop to 787,000
by Jay Heflin, Business Editor |
 | October 22, 2020 08:32 AM

The number of new applications for unemployment benefits drooped to 787,000 last week, the Labor Department reported on Thursday.

Forecasters had projected 870,000 new jobless claims.

In addition to claims for regular benefits, more than 345,000 workers filed new claims for the Pandemic Unemployment Assistance program, which provides for unemployment insurance for people sidelined by the epidemic who normally wouldn't be eligible for regular benefits, such as gig workers whose business dried up. Combining both regular and PUA claims, roughly 1.1 million jobless workers filed for relief last week.

Despite the drop in regular benefit claims, the economy is over seven months into the pandemic, and jobless claims remain at historically high levels. In January, before the coronavirus hit the United States, weekly claims were just over 200,000.

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https://www.washingtonexaminer.com/news/jobless-claims-drop-to-787-000-dropping-below-800k-for-first-time
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