San José, CA – On Wednesday, November 25, the U.S. Department of Labor reported that new claims for regular state unemployment benefits increased for the second week in a row, up 30,000 to 778,000. This is the highest level in five weeks and the first time since July with back-to-back increases. Adding in the weekly new claims for the federal Pandemic Unemployment Assistance or PUA for the self-employed and gig workers, almost 1.1 million people sought government aid in the recession.
San José, CA – Within a week of the election, the pandemic in the United States has turned the corner, just as President Trump said. But instead of fading away, there has been a surge in new infections. For five straight days there has been more than 100,000 cases a day, the latest being more than 145,000 – another record high. Trump has been uncharacteristically quiet on the pandemic, instead focusing on spreading lies and filing lawsuits to try to throw out people’s votes in a losing attempt to overturn President-elect Biden’s election victory.
San José, CA – For the second month in a row, U.S. stocks fell in October. The drop in stock prices sped up, with both October and the last week being the worst month and week for the stock market since March. The broadest stock market index, the S&P 500, is now down nearly 9% from its record high in early September.
San José, CA – On Thursday, October 22, the U.S. Department of Labor reported that there were 787,000 new claims for regular state unemployment in the week that ended October 17. This was 55,000 fewer than the previous week, but still 20,000 higher than two weeks ago and almost four times as high as the same week a year ago. While new claims have fallen dramatically from the record high of almost 6 million in April, they are still higher than the pre-recession high of less than 700,000.
San José, CA – On Thursday, October 15, the U.S. Department of Labor reported the biggest one week increase in new claims for unemployment insurance since late July. The latest report for the week ending October 10 saw 898,000 new claims for regular state unemployment insurance, up 53,000 from the week before.
San José, CA – The latest report by the Department of Labor on unemployment insurance applications shows that the tide of layoffs continues. But this week, major U.S. corporations announced even more layoffs to come as the economy tilts on the edge of a ‘double-dip’ recession.
San José, CA – The latest weekly report on new applications for regular state unemployment insurance showed an unexpected increase in new claims. The Department of Labor, on Thursday, September 24, said that there were 870,000 people who filed for state unemployment benefits in the week ending September 19, up slightly from 866,000 the week before. However, most economists expected a sizable drop to 850,000.
San José, CA – The weekly report on Unemployment Insurance (UI) claims issued on Thursday, September 17 by the U.S. Department of Labor showed that the economy continues to struggle. Seasonally adjusted new claims for regular state unemployment insurance fell by 33,000 to 860,000 for the previous week ending September 12. This number is still about four times the weekly claims number in February, when the recession began. It is also above the high mark for claims before this recession, which dates back to October 1982.
San José, CA – The latest report on unemployment insurance by the Department of Labor showed larger numbers across a number of measures. The number of new claims for regular state UI the week ending September 5 increased by 20,000 from the previous week. The same for the federal Pandemic Unemployment Assistance or PUA for self-employed and gig workers, which rose by more than 90,000, or 12%. Together total new claims rose to almost 1.7 million for the latest week.
Unemployment insurance benefit numbers paint a bleaker picture of labor market
San José, CA – The August jobs report released by the Department of Labor on Friday, September 4 showed that job growth continues to slow. The number of new jobs has gone from 4.8 million in June to 1.8 million in July to only 1.4 million in August. The August figure was even weaker because over 200,000 of these new jobs were temporary 2020 Census jobs. So far, the economy has gained back only half the jobs lost in March and April.
San José, CA – On Thursday, September 3 the U.S. stock market took its biggest fall since in three months. The Dow Jones Industrial Average dropped more than 800 points, or almost 3%. The broader S&P 500 index fell more than 3%, while the tech heavy NASDAQ index fell almost 5%. All of these measures of the stock market had been at or near record highs until their share drop.
San José, CA – On Thursday, August 27, the latest report on unemployment insurance shows that the U.S. economy remains stuck in the worst recession since the Great Depression of the 1930s. While new claims for regular state unemployment insurance benefits did drop to a little, over 1 million for the week ending August 22, the federal Pandemic Unemployment Assistance or PUA for gig workers and self-employed rose the same week. Together the two stayed the same as the week before, and slightly higher than two weeks ago. One million new applications for state unemployment insurance is five times the rate at beginning of the year.
San José, CA – With the additional $600 in unemployment benefits gone along with federal eviction protection, President Trump announced that a deal to restore the benefits and protect renters and home buyers “is not going to happen.” With tens of millions of people getting government aid, tens of thousands of evictions underway, and record numbers of people short on food, Trump’s statement may seem so beyond uncaring as to be almost senseless.
San José, CA – On Saturday, August 8, President Trump signed four executive orders that he declared would “take care of, pretty much, the entire situation.” But jobless workers will get little or no help from the triple whammy of the COVID-19 pandemic, economic crisis and the recent loss of the additional $600 a week in unemployment benefits, known as the Federal Pandemic Unemployment Compensation, of FPUC.
San José, CA – On Saturday, August 8, President Trump signed four executive orders that he declared would “take care of, pretty much, the entire situation.” But jobless workers will get little or no help from the triple whammy of the COVID-19 pandemic, economic crisis and the recent loss of the additional $600 a week in unemployment benefits, known as the Federal Pandemic Unemployment Compensation, of FPUC.
San José, CA – In March and April of this year, more than 20 million jobs were lost because of the economic crisis, COVID-19 pandemic and stay-at-home orders to fight the virus. Millions more who were working gig jobs or had their own businesses lost their livelihood. At the time when the government count was done in mid-July, more than 30 million people – almost 20% of the workforce – were collecting some form of unemployment insurance benefits.
San José, CA – 25 million Americans or more are losing their additional $600 a week in unemployment insurance benefits even as the number of people applying for unemployment benefits continues to rise. Up to one-third of all renters have already lost eviction protection from the federal government, and the Republican proposal does not include extending it. Millions of other households are under threat of losing their electrical power for not paying their bills.
San José, CA – After months of delay and weeks of infighting, on Monday, July 27 the Trump administration and the Republican Senate put forward their proposal for more economic relief from the pandemic and recession. With the $600 a week in additional benefits expiring, the Republicans want to cut this by $400 a week, down to $200. With the national unemployment benefit averaging about $350 a week, this would mean a more than 40% cut in their benefits.
San José, CA – The $600 a week in additional unemployment insurance benefits is set to expire at the end of July. This aid is called the Federal Pandemic Unemployment Compensation or FPUC. More than 25 million people who are receiving regular state unemployment benefits, or the federal Pandemic Unemployment Assistance or PUA for the self-employed, will lose their FPUC benefit.
San José, CA – In less than two weeks the Federal Pandemic Unemployment Compensation or FPUC, which provides an extra $600 a week to those who are unemployed because of the COVID-19 pandemic, will end. The FPUC was part of CARES act passed back in March as disaster relief as the pandemic began to ravage the U.S. economy.
