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Jobless Archives - Virus Reports http://virusreports.net/tag/jobless/ Thu, 06 Aug 2020 13:21:26 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.7 https://s3.us-west-1.wasabisys.com/virusreports/2020/05/cropped-virus-favicon-32x32.png Jobless Archives - Virus Reports http://virusreports.net/tag/jobless/ 32 32 U.S. weekly jobless claims total 1.186 million, lowest level of the coronavirus pandemic https://virusreports.net/u-s-weekly-jobless-claims-total-1-186-million-lowest-level-of-the-coronavirus-pandemic/ https://virusreports.net/u-s-weekly-jobless-claims-total-1-186-million-lowest-level-of-the-coronavirus-pandemic/#respond Thu, 06 Aug 2020 13:21:26 +0000 https://virusreports.net/u-s-weekly-jobless-claims-total-1-186-million-lowest-level-of-the-coronavirus-pandemic/ Weekly jobless claims hit their lowest level of the pandemic area, totaling 1.186 million last week, well below Wall Street expectations.Economists surveyed by Dow Jones had been looking for 1.42 million. The level for the week ended Aug. 1 represented a drop of 249,000 from the previous period. Amid worries that the employment picture was faltering…

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Weekly jobless claims hit their lowest level of the pandemic area, totaling 1.186 million last week, well below Wall Street expectations.

Economists surveyed by Dow Jones had been looking for 1.42 million. The level for the week ended Aug. 1 represented a drop of 249,000 from the previous period. 

Amid worries that the employment picture was faltering after two record-breaking months of job creation, the claims number indicates some momentum. Continuing claims, or those who have collected benefits for two straight weeks, dropped by 844,000 to 16.1 million.

Markets reacted positively to the news, with Dow futures shaving almost all of their earlier losses as stocks looked to open about flat.

The last time the weekly claims number was this low was March 14, just as the coronavirus hit pandemic status and the U.S. economy came to a standstill in an effort to halt the spread. The totals since then have easily eclipsed anything seen before in records going back to 1967.

Even with this past week’s improvement, the total remains well above the pre-pandemic record of 695,000 in 1982.

The four-week moving average, which smooths volatility in the numbers, fell by 413,250 to 16.6 million. But the damage to the labor remains deep and this was the 20th consecutive week that claims have run above 1 million.

The total of those claiming benefits, which lags the current data by two weeks, rose to 32.1 million as of July 18, an increase of 1.3 million from the previous week. 

Pandemic Unemployment Assistance recipients declined to 655,707, a fall of 253,093 from the previous week as the program expired July 31. The program provided benefits to those who normally wouldn’t be covered under traditional unemployment insurance. Congress and the White House are working on an extension of the program but have not reached an agreement yet.

The report comes a day ahead of the Labor Department’s nonfarm payrolls release for July. Economists expect it to show growth of nearly 1.5 million, though Wednesday’s private payrolls report from ADP, which showed a gain of just 167,000.

The past week’s improved showing from claims will not be reflected in the July count as it falls outside the Bureau of Labor Statistics’ sample week.

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Enhanced jobless benefits expired overnight: Here’s where Congress’ negotiations stand https://virusreports.net/enhanced-jobless-benefits-expired-overnight-heres-where-congress-negotiations-stand/ https://virusreports.net/enhanced-jobless-benefits-expired-overnight-heres-where-congress-negotiations-stand/#respond Sat, 01 Aug 2020 13:21:23 +0000 https://virusreports.net/enhanced-jobless-benefits-expired-overnight-heres-where-congress-negotiations-stand/ Washington (CNN)The federal enhanced unemployment benefit that out-of-work Americans have relied on amid the coronavirus pandemic has now officially expired -- and Democrats and Republicans are still…

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Washington (CNN)The federal enhanced unemployment benefit that out-of-work Americans have relied on amid the coronavirus pandemic has now officially expired — and Democrats and Republicans are still…
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As $600-a-Week Jobless Aid Nears End, Congress Faces a Quandary https://virusreports.net/as-600-a-week-jobless-aid-nears-end-congress-faces-a-quandary/ https://virusreports.net/as-600-a-week-jobless-aid-nears-end-congress-faces-a-quandary/#respond Sun, 19 Jul 2020 13:22:35 +0000 https://virusreports.net/as-600-a-week-jobless-aid-nears-end-congress-faces-a-quandary/ Some 25 million Americans are set to lose $600 a week each in federal unemployment benefits at the end of the month, one of the thorniest issues Congress faces when it returns to Washington this week to consider another coronavirus relief bill. Many people view the payments as a lifeline and analysts say the $15…

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Some 25 million Americans are set to lose $600 a week each in federal unemployment benefits at the end of the month, one of the thorniest issues Congress faces when it returns to Washington this week to consider another coronavirus relief bill.

Many people view the payments as a lifeline and analysts say the $15 billion a week in federal spending has provided vital support to an economy staggering from the effects of the pandemic. But critics say the money, paid on top of regular state jobless benefits, discourages some Americans…

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U.S. jobless claims exceed 40 million amid pandemic https://virusreports.net/u-s-jobless-claims-exceed-40-million-amid-pandemic/ https://virusreports.net/u-s-jobless-claims-exceed-40-million-amid-pandemic/#respond Fri, 29 May 2020 03:22:14 +0000 https://virusreports.net/u-s-jobless-claims-exceed-40-million-amid-pandemic/ 2.67M Want to watch this again later? Sign in to add this video to a playlist. Sign in Like this video? Sign in to make your opinion count. Sign in Don't like this video? Sign in to make your opinion count. Sign in Published on May 28, 2020Another 2.1 million Americans filed for unemployment benefits…

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Published on May 28, 2020

Another 2.1 million Americans filed for unemployment benefits last week, pushing the total past 40 million since the coronavirus lockdowns began in mid-March. The director of portfolio strategy at Optimal Capital, Frances Stacy, joined CBSN with a look at the latest numbers.

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$600 jobless benefit passed by Congress may slow economic recovery, study suggests https://virusreports.net/600-jobless-benefit-passed-by-congress-may-slow-economic-recovery-study-suggests/ https://virusreports.net/600-jobless-benefit-passed-by-congress-may-slow-economic-recovery-study-suggests/#respond Sun, 24 May 2020 11:21:06 +0000 https://virusreports.net/600-jobless-benefit-passed-by-congress-may-slow-economic-recovery-study-suggests/ Fox News Back to Top ©2020 FOX News Network, LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. All market data delayed 20 minutes. New Privacy Policy - New Terms of Use (What's New) - FAQ

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©2020 FOX News Network, LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. All market data delayed 20 minutes. New Privacy PolicyNew Terms of Use (What’s New)FAQ

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Jobless claims total 2.4 million, still elevated levels but a declining pace from previous weeks https://virusreports.net/jobless-claims-total-2-4-million-still-elevated-levels-but-a-declining-pace-from-previous-weeks/ https://virusreports.net/jobless-claims-total-2-4-million-still-elevated-levels-but-a-declining-pace-from-previous-weeks/#respond Thu, 21 May 2020 13:24:55 +0000 https://virusreports.net/jobless-claims-total-2-4-million-still-elevated-levels-but-a-declining-pace-from-previous-weeks/ First-time filings for unemployment insurance totaled 2.44 million last week as the tail effects of the coronavirus shutdown continued to impact the U.S. jobs market.Economists surveyed by Dow Jones had been looking for 2.4 million claims.The seasonally adjusted total, while still well above anything the nation had seen in pre-coronavirus America, represents the seventh straight…

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First-time filings for unemployment insurance totaled 2.44 million last week as the tail effects of the coronavirus shutdown continued to impact the U.S. jobs market.

Economists surveyed by Dow Jones had been looking for 2.4 million claims.

The seasonally adjusted total, while still well above anything the nation had seen in pre-coronavirus America, represents the seventh straight week of a declining pace following the record peak of 6.9 million in late March.

In addition, a review from last week brought the number down substantially, from 2.98 million to 2.69 million. In the nine weeks since the coronavirus-induced lockdown has closed large parts of the U.S. economy, some 38.6 million workers have filed claims.

The level of continuing claims painted a clearer picture of how unemployment is persisting even as states are increasingly taking steps to bring their economies back on line. The total for the week ending May 9 was 25.07 million, an increase of 2.52 million from the previous week.

The four-week moving average also increased sharply, jumping by 2.3 million to just above 22 million.

Markets reacted little to the news, with Wall Street indicating a modestly lower open for stocks.

“Net, net, the states may be opening back up, but the labor market is still closed for millions across America and the loss of the income and spending of those without jobs will be a considerable headwind for this economic recovery,” said Chris Rupkey, chief financial economist at MUFG Union Bank.

At the state level, the biggest drop came in Georgia, which saw a decline of 66,224 from a week earlier, according to data not adjusted for seasonal factors. The biggest gain was in California, which saw an increase of 33,448.

Though the total national numbers are on the decline, the unemployment numbers remain staggering and well beyond anything the U.S. has seen before. Along with the 25 million unemployed as indicated by the continuing claims, there are another 2.23 million claims under the Pandemic Unemployment Assistance program and 167,727 under the Pandemic Emergency Unemployment program.

The program provides funding for states to pay up to 39 weeks of unemployment benefits for workers who either aren’t eligible for standard benefits or have exhausted their regular compensation.

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Jobless claims dip to 2.4 million, total now 38.6 million from coronavirus crisis https://virusreports.net/jobless-claims-dip-to-2-4-million-total-now-38-6-million-from-coronavirus-crisis/ https://virusreports.net/jobless-claims-dip-to-2-4-million-total-now-38-6-million-from-coronavirus-crisis/#respond Thu, 21 May 2020 13:24:42 +0000 https://virusreports.net/jobless-claims-dip-to-2-4-million-total-now-38-6-million-from-coronavirus-crisis/ FILE - In this Tuesday, April 21, 2020, file photo, people wait outside a WIN job center in Pearl, Miss. As of mid-April, about 26 million Americans had filed unemployment claims in the first five weeks since governments began ordering ... more > By Dave Boyer - The Washington Times - Thursday, May 21, 2020…

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FILE - In this Tuesday, April 21, 2020, file photo, people wait outside a WIN job center in Pearl, Miss. As of mid-April, about 26 million Americans had filed unemployment claims in the first five weeks since governments began ordering people to stay home and some businesses to close as a precaution against spreading the virus that causes the COVID-19 disease. It's already the worst stretch of job losses in U.S. history. New unemployment data to be released Thursday, April 30, 2020, is expected to push that total even higher. (AP Photo/Rogelio V. Solis, File)

FILE – In this Tuesday, April 21, 2020, file photo, people wait outside a WIN job center in Pearl, Miss. As of mid-April, about 26 million Americans had filed unemployment claims in the first five weeks since governments began ordering … more >

By Dave Boyer

The Washington Times

Thursday, May 21, 2020

Unemployment claims dipped to 2.43 million last week, the Labor Department reported Thursday, down slightly from the previous week but still a sign of continued struggles from the coronavirus shutdown.

The weekly filings brought the total number of workers filing unemployment claims to 38.6 million since the crisis began in March.

At the peak, 6.8 million people filed claims for benefits for the week of March 27.

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Jobless disaster: The struggle to save the economy while people are dying https://virusreports.net/jobless-disaster-the-struggle-to-save-the-economy-while-people-are-dying/ https://virusreports.net/jobless-disaster-the-struggle-to-save-the-economy-while-people-are-dying/#respond Fri, 08 May 2020 13:26:29 +0000 https://virusreports.net/jobless-disaster-the-struggle-to-save-the-economy-while-people-are-dying/ We could distract ourselves today with the bitter feud between Donald Trump and George Conway, or the weird Twitter spat between Steve Mnuchin and Axl Rose.But with the number of new jobless claims now surpassing 33 million, the state of the shuttered economy seems far more important.Pundits and politicians bat the ball back and forth…

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We could distract ourselves today with the bitter feud between Donald Trump and George Conway, or the weird Twitter spat between Steve Mnuchin and Axl Rose.

But with the number of new jobless claims now surpassing 33 million, the state of the shuttered economy seems far more important.

Pundits and politicians bat the ball back and forth about the best way to “reopen” the country for business, as if it can be done by decree. That may be as massive a challenge as beating the coronavirus.

A Washington Post-Ipsos poll of laid-off or furloughed workers finds that 77 percent expect to be rehired by their previous employer once the lockdowns are lifted. But as the story points out, that may be far too optimistic.

A University of Chicago study predicts 42 percent of the jobs losses during the pandemic may turn out to be permanent. Such companies as GE and Nordstrom initially furloughed employees, but some of them are now being permanently laid off. That’s not exactly good news for the latest 3.2 million to seek unemployment benefits, based on figures released yesterday.

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The larger problem, with about half the states moving to restart their economies, is that if you build it they won’t necessarily come. By large majorities, people tell pollsters they think it’s too soon to lift social-distancing restrictions. How many of them are going to show up in department stores, gyms, salons and restaurants? That will determine how many workers these businesses can actually rehire.

Restaurants in particular are key to many urban economies, as this New York Times piece points out. Its trade group says restaurants have lost 78 percent in sales, about $50 billion, during the pandemic.

Should the feds ride to the rescue? The treasury plans to borrow almost $3 trillion to pay for the government’s pandemic spending. Even a government that can print money can’t do so endlessly.

The entire economic debate has been inextricably linked to the increasingly partisan arguments over saving people from Covid-19. When President Trump was asked whether the death toll will rise as the states reopen.

“Hopefully that won’t be the case,” he said, but that “could very well be the case.”

But, says the president, “we have to get our country open again. People want to go back, and you’re going to have a problem if you don’t do it.”

What else is he supposed to say? Many of the states that are reopening don’t meet his federal guidelines–should he overrule the governors?

Even the most ardent advocates of protecting public health have to acknowledge that America can’t stay closed for business forever. Poverty also has an impact on health, as when people avoid doctor visits because they can’t afford it.

“There’s a cost of staying closed, no doubt,” says Andrew Cuomo. “Economic cost. Personal cost. There’s also a cost of reopening too quickly. Either option has a cost.”

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Still, any hint that the White House is declaring Mission Accomplished is political poison. When Trump and Mike Pence confirmed they would be closing down the coronavirus task force within a month, the blowback was so severe that the president reversed himself the next day.

“I thought we could wind it down sooner. But I had no idea how popular the task force is until actually yesterday when I started talking about winding down,” he said.

Actually, the president was being diplomatic. Of course he knew that the task force is highly respected and that experts like Anthony Fauci have high approval ratings. But he wants to pivot to restarting the economy–yes, there’s an election going on–and the task force is laser-focused on the pandemic.

The purest distillation of media hatred for Trump was captured in a banner headline in the left-wing Huffington Post:

“THE PRESIDENT DOESN’T CARE IF YOU LIVE OR DIE.”

That, from a website that once relegated candidate Trump to its entertainment section, reeks of bile. And all the story said was that the president has trouble showing empathy.

We all need to show more empathy for those thrown out of work by this awful pandemic. And we all need to recognize that helping them with more than a short-term fix isn’t going to be easy.

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Oregon jobless claim system’s ‘restart’ error returns despite state’s insistence problem was fixed https://virusreports.net/oregon-jobless-claim-systems-restart-error-returns-despite-states-insistence-problem-was-fixed/ https://virusreports.net/oregon-jobless-claim-systems-restart-error-returns-despite-states-insistence-problem-was-fixed/#respond Sun, 19 Apr 2020 19:23:11 +0000 https://virusreports.net/oregon-jobless-claim-systems-restart-error-returns-despite-states-insistence-problem-was-fixed/ confounded scores of workers on Easter Sunday has returned this Sunday morning, despite the state’s insistence that the problem has been fixed.The Oregon Employment Department’s website again is telling many workers this Sunday morning that they must restart their claims when they make their weekly filing for benefits. That’s a mistake – most workers do…

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confounded scores of workers on Easter Sunday has returned this Sunday morning, despite the state’s insistence that the problem has been fixed.

The Oregon Employment Department’s website again is telling many workers this Sunday morning that they must restart their claims when they make their weekly filing for benefits. That’s a mistake – most workers do not need to start over – but it doesn’t appear they have an immediate alternative to make their weekly filing for continued benefits.

Several workers emailed The Oregonian/OregonLive early this Sunday morning to report the issue and many others are writing angrily about the problem on Twitter.

The employment department’s website still said, incorrectly, that “The restart stop issue has been fixed.”When workers tried to file their weekly claims Sunday morning, though, the system instructs them to “Restart Your Claim.”

Employment department communications director Gail Krumenauer wrote in an email that the department was working on a new fix. She added that the issue was not affecting everyone, and that about 60,000 claims had been processed successfully Sunday.

The department did not respond to a question last week about how it will communicate proactively when such mistakes emerge. It did acknowledge the issue in a tweet.

For now, workers encountering Sunday’s restart error apparently must wait for the department to implement another fix. The department fixed last week’s problem on Monday – but then insisted it wouldn’t recur again the beginning of this week.

“We have an IT fix in place that should prevent the re-start error from happening again, or happening to a new set of claimants, next week,” the department told The Oregonian/OregonLive last Monday.

The employment department is struggling to cope with an onslaught of jobless claims. Close to 300,000 Oregonians lost their jobs in the first weeks of the coronavirus outbreak as restaurants, bars and many other businesses shut down to contain the epidemic.

The department has been unable to process many claims because it still relies on a 1990s computer system to process claims. The state has been planning an overhaul since it received federal funding for an upgrade in 2009 but estimates the new computers won’t be fully in place until 2025.

Oregon’s antiquated computers frequently deny claims to people who are legally entitled to benefits, a problem that has exploded with the surge in claims. That’s resulted in jammed phone lines and delays in benefits to thousands of newly laid off workers.

Meanwhile, Oregon has been unable to adapt its computers to process changes in the jobless benefits system that Congress approved last month to alleviate the economic crisis brought on by the coronavirus. That means thousands of more unemployed Oregonians are not receiving full benefits.

For example, Oregon cannot process claims made by gig workers and the self-employed even though Congress made them eligible for benefits last month. The state has given no estimate of when it will be able to process their claims.

And Oregon has been unable to waive the “waiting week” – a period before for newly unemployed workers are eligible to start receiving financial benefits. Congress authorized state to waive the waiting period last month but Oregon, unlike other states, has been unable to implement the waiver.

Under pressure from Oregon’s congressional delegation, Gov. Kate Brown said last week the state will eventually waive the waiting period and make it retroactive to workers who already filed claims. But Brown said that will require “thousands of hours” of computer programming and gave no estimate of when that will take place.

— Mike Rogoway | mrogoway@oregonian.com | twitter: @rogoway |

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Out of work claims total 5.245 million as 22 million positions have been lost in a month due to coronavirus https://virusreports.net/out-of-work-claims-total-5-245-million-as-22-million-positions-have-been-lost-in-a-month-due-to-coronavirus/ https://virusreports.net/out-of-work-claims-total-5-245-million-as-22-million-positions-have-been-lost-in-a-month-due-to-coronavirus/#respond Thu, 16 Apr 2020 13:24:40 +0000 https://virusreports.net/out-of-work-claims-total-5-245-million-as-22-million-positions-have-been-lost-in-a-month-due-to-coronavirus/ Protection measures against the coronavirus continued to tear through the employment ranks, with 5.245 million more Americans filing first-time claims for unemployment insurance last week, the Labor Department reported Thursday.That brings the crisis total to just over 22 million, nearly wiping out all the job gains since the Great Recession.The total was a bit worse…

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Protection measures against the coronavirus continued to tear through the employment ranks, with 5.245 million more Americans filing first-time claims for unemployment insurance last week, the Labor Department reported Thursday.

That brings the crisis total to simply over 22 million, nearly wiping out all the task gains since the Great Economic downturn.

The total was a bit even worse than the 5 million anticipated from economic experts surveyed by Dow Jones.

Though the most current count, for the week ended April 11, represented a drop from the previous two weeks, it revealed that the damage to the U.S. labor market remains profound.

” As we totally know the present state of the labor market with mass waves of layoffs, the crucial question relies on how many of these people will be rehired when the economy begins to resume,” stated Peter Boockvar, chief investment officer at the Bleakley Group. “We can assume it will take a very long time for that to occur but hopefully we’re getting closer to a minimum of getting going.”

The varieties of late have been bolstered by measures required to allow more employees to submit claims. They now include independent specialists and others who formerly were not qualified for benefits.

Big states drop, unadjusted claims fall

Last week’s at first reported overall of 6.606 million was revised up slightly to 6.615 million.

The four-week moving average, which during normal times is helpful in raveling weekly volatility in the numbers, leapt to 6.066 million, an increase of 2.568 million the previous week.

Stock market futures really gained on the news and pointed to a minor gain at the market open.

There was some great news in the information when looking at the numbers not adjusted for seasonal elements, which some economic experts state is unneeded offered the existing unusual conditions.

The unadjusted total was 4.97 million, in fact representing a plunge of 20%or more than 1.2 million from the previous week. Seasonal aspects in fact should have shown about a 1%gain, according to the Labor Department. A comparable week in 2019 would have shown just 196,364 claims.

The majority of the big states showed decreases from the previous week in benefit applications, according to unadjusted numbers.

Pennsylvania posted a drop of 39,283, California was down by 257,848 and Michigan fell by 169,234 New York, which has actually lagged a few of the bigger states in terms of filings, saw a gain of 51,498 to 395,949

The numbers featured a joblessness rate at 4.4%that does not come close to measuring the damage the coronavirus has actually had on the tasks market. Many economic experts anticipate the unemployed level to be in the neighborhood of 10%when the April tally is completed, and there are projections the level could increase to in excess of 15%.

The overall claims of 22.03 million submitted because social distancing procedures worked shows a 13.5%drop in family employment, according to Paul Ashworth, chief U.S. economic expert at Capital Economics. Ashworth said he anticipates the April unemployed rate to fall in between 15%-20%.

” Nonetheless, we do still expect the joblessness rate to come down far more quickly that throughout a normal economic recovery, as short-term layoffs go back to work as soon as the lockdowns are lifted, so we still would not characterize this as a depression-type event,” he stated.

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