Jobless claims unexpectedly spikes: Another 861,000 Americans filed new unemployment claims

Yahoo Finance ^ | 02/18/2021 | Emily McCormick

[SeekAndFind]

Weekly unemployment claims unexpectedly surged last week, rising above 800,000 as the labor market recovery stalled.

The Department of Labor released its weekly report on new jobless claims Thursday at 8:30 a.m. ET. Here were the main metrics from the report, compared to consensus data compiled by Bloomberg:

* Initial jobless claims, week ended February 13: 861,000 vs. 773,000 expected and an upwardly revised 848,000 during prior week

* Continuing claims, week ended February 6: 4.494 million vs. 4.425 million expected and an upwardly revised 4.558 million during prior week

At 861,000, new jobless claims posted a surprise back-to-back weekly increase to reach the highest level in one month. The prior week's new claims were also upwardly revised to 848,000, from the 793,000 reported previously.

The four week moving average for new claims ticked down slightly by 3,500 to 833,250, as claims steadied at an elevated level after a December and January surge. And new weekly claims remain multiples above their levels from before the pandemic, when claims were coming in at an average of just over 200,000 per week.

On a state-by-state basis, some populous states again reported large increases in new claims for the week ended February 13, contributing heavily to the overall rise. Illinois saw more than 33,000 new claims filed last week, on an unadjusted basis, while California estimated that 20,600 claims were filed. Others, however, saw notable decreases, including Texas with a drop of 12,400 unadjusted new claims, and Georgia with a drop of nearly 6,000.

[MichaelRDanger]

Unexpectedly spikes? Funny how I was expecting it...

[BenLurkin]

Are any of these claims being filed by illegals?

[xp38]

Here we go. The return of unexpected to the political lexicon.

[Jeff Chandler]

Unemployment Rates for States
Unemployment Rates for States, Seasonally Adjusted
State December 2020(P)
rate Rank
Nebraska

3.0 1
South Dakota

3.0 1
Iowa

3.1 3
Vermont

3.1 3
Utah

3.6 5
Kansas

3.8 6
Alabama

3.9 7
New Hampshire

4.0 8
North Dakota

4.1 9
Arkansas

4.2 10
Indiana

4.3 11
Idaho

4.4 12
Minnesota

4.4 12
Montana

4.4 12
South Carolina

4.6 15
Wyoming

4.8 16
Maine

4.9 17
Virginia

4.9 17
Delaware

5.3 19
Oklahoma

5.3 19
Ohio

5.5 21
Wisconsin

5.5 21
Georgia

5.6 23
Alaska

5.8 24
Missouri

5.8 24
Kentucky

6.0 26
Florida

6.1 27
Mississippi

6.2 28
North Carolina

6.2 28
Maryland

6.3 30
West Virginia

6.3 30
Oregon

6.4 32
Tennessee

6.4 32
Pennsylvania

6.7 34
Washington

7.1 35
Louisiana

7.2 36
Texas

7.2 36
Massachusetts

7.4 38
Arizona

7.5 39
Michigan

7.5 39
Illinois

7.6 41
New Jersey

7.6 41
District Of Columbia

7.9 43
Connecticut

8.0 44
Rhode Island

8.1 45
New Mexico

8.2 46
New York

8.2 46
Colorado

8.4 48
California

9.0 49
Nevada

9.2 50
Hawaii

9.3 51
Footnotes

[escapefromboston]

Jeez better import more people from south of the border

[usconservative]

Exactly! There's nothing unexpected about the sudden spike in joblessness what, with the push for a $15 minimum wage and Dementia Xiden's anti-business policies.

Of course companies are laying off in anticipation of higher costs of doing business. The bank I work for let 2.5% of our global workforce go shortly after Xiden began his illegal occupation of the White House.

[Aria]

Welcome to Biden’s dark winter.

[Othniel77]

Why would any business owner hire anyone during this uncertain time? The Biden regime could at any moment decide their business was not allowed or impose heavy new regulations.

[BykrBayb]

Kind of like how gas prices have “unexpectedly” spiked?

[Osage Orange]

Unexpectedly????

[Flick Lives]

“Unexpectedly”. Didn’t take long for that word to make a comeback with the presstitutes.

[cableguymn]

Who are the idiots that didn’t expect this?

[Still Thinking]

Poor Bidet, inheriting that awful Trump economy, wait......

[cdcdawg]

This is a perfect time say “we have to bring these people in.”

[stylin19a]

Keep signing those EOs Joe...

[newzjunkey]

When you seen “unexpected” describing jobless numbers the press is tipping you that a Dem is in the WH

[Magnum44]

Yep. "unexpectedly"

[Still Thinking]

Unexpectedly????

Well, they probably DIDN'T expect it, because they're 68IQ urinalism majors who think, er, FEEEEEEL commie/Democrat governance is actually beneficial (to someone besides the pols, cronies and elites).

[patriot torch]

“Weekly unemployment claims unexpectedly surged last week, “

---

Thats like constructing a cement barrier in turn four at the Daytona speeway and announcing a big crash in turn four on the first lap of the Daytona 500.