Posted on 02/18/2021 9:42:04 AM PST by 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.
(Excerpt) Read more at finance.yahoo.com ...
#jobkillerjoe on the march
At least Nebraska is #1 in something.
We’re number one! we’re number one! Feels good. I really miss that.
Have a good weekend everyone! Go Big Red State!
BiteMe administration is off to a roaring start
Biden’s big government to he rescue.
“We’re from the government, and we’re here to help.”
Didn’t take long did it. The guy hasn’t been in office less
than a month and the jobs are dying on the vine.
Say it ain’t so Joe.
Each likely has multiple filings.
Every time Joe wields his magic pen, scores of thousands more jobs vanish from America.
And the 100 day damage report isn’t even finished yet buckle up rough ride ahead.
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