Author Topic: Jobless claims tick down after first increase since April  (Read 599 times)

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Offline mystery-ak

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Jobless claims tick down after first increase since April
« on: June 24, 2021, 01:14:00 pm »
Jobless claims tick down after first increase since April
By Sylvan Lane - 06/24/21 09:09 AM EDT

The number of new applications for jobless aid dropped slightly last week to 411,000, the Labor Department reported Thursday.

In the week ending June 19, seasonally adjusted initial claims for unemployment insurance dropped by 7,000 from the previous week’s revised total of 418,000. Last week’s drop followed the first increase in jobless claims since April.

Another 104,682 workers applied for Pandemic Unemployment Assistance (PUA), a jobless aid program for gig workers, contractors and others who don’t qualify for traditional unemployment insurance, an increase of 6,920 applications from the prior week.

The four-week moving average for claims also rose after last week’s modest reduction in claims, which have fallen slowly since May. Even so, experts say that the plateau may be little more than a statistical quirk driven by volatile data.

“I wouldn't worry too much about the deceleration yet,” said Daniel Zhao, senior economist at Glassdoor in a Twitter thread. He pointed to a sharp spike in weekly claims from Pennsylvania , which rose from 30,000 to 44,000 last week.

“That's an unusually large increase which may recede in coming weeks.”

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https://thehill.com/policy/finance/560011-jobless-claims-tick-down-after-first-increase-since-april
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Offline mystery-ak

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Re: Jobless claims tick down after first increase since April
« Reply #1 on: June 24, 2021, 01:16:30 pm »
difference in headlines

New jobless claims at 411,000, more than expected
https://www.washingtonexaminer.com/news/jobless-claims-unemployment-benefits-ending
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