Close to 800,000 in U.S. file new unemployment claims

Breitbart ^ | 12/31/2020 | UPI

[ChicagoConservative27]

Dec. 31 (UPI) — Close to 800,000 more U.S. workers have filed new unemployment claims, the Labor Department said Thursday in its weekly report.

The department said about 787,000 Americans filed new claims for the week ending last Saturday, a decrease of 19,000 from the previous week.

[ChicagoConservative27]

Not to worry. Diapers Biden said help is on the way. Just have to order more paper to print money.

[Leaning Right]

> Just have to order more paper to print money. <

If Biden gets in, I’m gonna invest in wheelbarrow companies.

[Trump.Deplorable]

extra $300 plus unemployment and other free cash, why not? Why work when not working pays more?

[stylin19a]

what a crap headline...has Breitbart gone all Fox News on us?

"...about 787,000 Americans filed new claims for the week ending last Saturday, a decrease of 19,000 from the previous week.
The figure was lower than most experts predicted (828,000).
In its report, the department also revised up last week’s claims by 3,000 and said the unemployment rate for the most recent week was 3.6%."

3.6% unemployment rate? Does that sound right?

[jpp113]

Does anybody even have a clue how many decent americans have been f*cked by this BS? Thats close to 800,000 NEW claims in a week. Not existing claims - NEW. There are tens of millions depending on unemployment. There is close to zero hiring. The unemployment rate that they have been claiming is bogus and not accurate at all.

Believe what you want to believe, but I know you’d think differently if the shoe was on the other foot.

[JoSixChip]

3.6% unemployment rate? Does that sound right?

No, that's considered full employment. At least that is what they teach in economics courses I have taken.

[buwaya]

Its not right - officially its 6.7% - 3.6% is someone’s editing problem. But even that is only correct if you ignore the collapse of the workforce. That’s the same lie they fed the people in 2009-2014.

A much more sound figure is the population employment rate, that is the % of adults employed. The St. Louis Fed has been using this mainly - their series is EMRATIO.
https://fred.stlouisfed.org/series/EMRATIO
Check it out.

[buwaya]

The entire unemployment rate calculation is a defective concept. It depends on calculating a workforce number, that is itself dynamic, to use as a denominator.

Its extremely deceptive.

[eyeamok]

That’s a number every Democrat can be Proud of!

[buwaya]

True, there is effectively zero hiring at this point. The recovery ran out of steam in October-November. This is a global problem btw.

[EEGator]

I can’t research right now, but I think that’s six straight weeks of around 800K per week.
More shutdowns are coming, and thus more jobs will be cut.
The middle class is getting destroyed.

[bobcat62]

Shadow Stats says the unemployment rate is 26.3 percent.

[Deo volente]

More shutdowns are coming, and thus more jobs will be cut. The middle class is getting destroyed.

All part of the globalist plan. The middle class is getting destroyed and will have no choice but to be dependent on the government for survival. The money will be printed (actually pulled out of thin air) and sent to Americans so they can eat, pay rent, and basically survive. At some point things will bend to a breaking point, and all hell will hopefully break loose on the Soros gang and others who are trying to control us. It's going to be nasty though.

[cymbeline]

Bad news. Is a death from covid-19 worse than a death from suicide or drug overdose?

[Theoria]

3.6% is in reference to the 'Insured Unemployment Rate'.

[TheBattman]

This is what happens when states refused to follow the actual evidence and science and hold on to unconstitutional lockdowns and restrictions.

[ArcadeQuarters]

Open the economy for the healthy, quarantine the most vulnerable, narrowly target assistance to the quarantined . Problem solved.

[ncfool]

funny thing is that i’m a business owner and my CFO got a Unemployment claim filed on me last week. It showed that I had been laid off from my job in May. He also got one showing that he got terminated in March 2020.
Not sure what is going on as we did not file any claims.

THERE IS A LOT OF FRAUD TAKING PLACE.

[pepsi_junkie]

The recovery ran out of steam in October-November.

When the second wave started. The second wave of lockdowns, that is.

[stylin19a]

hey...thanQ you for that.
I see the explanation, but I’m not sure I understand what it means?
Is this algorithm where it’s determined that continuing claims are up or down?