Author Topic: Unemployment claims drop to 787,000  (Read 309 times)

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Unemployment claims drop to 787,000
« on: December 31, 2020, 02:02:45 pm »
Unemployment claims drop to 787,000
By Niv Elis - 12/31/20 08:43 AM EST

Initial unemployment claims fell to 787,000 for the week ending December 26, dropping below 800,000 for the first time in a month, according to Labor Department data released Thursday.

The seasonally adjusted figure was a drop of 19,000 from the previous week, which itself was revised upwards by 3,000.

Unadjusted data showed 841,111 claims, a drop of 12,655, or 1.4 percent. Another 308,262 people applied for Pandemic Unemployment Assistance, an expanded emergency program offering benefits to the self-employed and gig economy workers, a decline of over 88,000 from the previous week.

While claims remained historically high, and well above the weekly pre-pandemic record, the declines were welcome news for an ailing job market.

Claims had fallen below 700,000 in late October for the first time since the pandemic started, but roared back up a month later as new COVID-19 cases exploded around the country.

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https://thehill.com/policy/finance/532195-unemployment-claims-drop-to-787000
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