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Thu Oct 29, 2020, 07:36 AM

U.S. Jobless Claims Fall to 7-Month Low of 751,000 Last Week

Source: The Wall Street Journal.

ECONOMY U.S. ECONOMY

U.S. Jobless Claims Fall to 7-Month Low of 751,000 Last Week

Economists expected Labor Department to report number of Americans who filed initial jobless claims to fall slightly last week

By Josh Mitchell
Updated Oct. 29, 2020 8:34 am ET

U.S. jobless claims fell to a 7-month low of 751,000, suggesting layoffs are easing despite a rise in coronavirus infections.

The number of Americans who filed initial jobless claims, a proxy for layoffs, fell earlier this month to the lowest level since March, when the pandemic shut down much of the country’s business activity. Economists expected Thursday’s report from the Labor Department to show claims fell slightly last week.

The...

{Snip. It's behind a paywall.}

Read more: https://www.wsj.com/articles/weekly-jobless-claims-coronavirus-10-29-2020-11603921724



https://twitter.com/JMitchellWSJ
joshua.mitchell@wsj.com

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Reply U.S. Jobless Claims Fall to 7-Month Low of 751,000 Last Week (Original post)
mahatmakanejeeves Oct 29 OP
Jamesyu Oct 29 #1
cstanleytech Oct 29 #4
TomCADem Oct 29 #9
Miguelito Loveless Oct 29 #2
mahatmakanejeeves Oct 29 #3
llashram Oct 29 #8
mahatmakanejeeves Oct 29 #11
llashram Oct 29 #12
JT45242 Oct 29 #5
durablend Oct 29 #6
llashram Oct 30 #14
KPN Oct 29 #7
orangecrush Oct 29 #10
Demsrule86 Oct 29 #13
llashram Oct 30 #15
csziggy Oct 30 #16

Response to mahatmakanejeeves (Original post)

Thu Oct 29, 2020, 07:45 AM

1. I'm glad people got their jobs back

But this will not save Trump.

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Response to Jamesyu (Reply #1)

Thu Oct 29, 2020, 08:21 AM

4. Is it that or is it that their unemployment ran out?

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Response to Jamesyu (Reply #1)

Thu Oct 29, 2020, 11:13 AM

9. Initial jobless claims went down...

...this does not mean that people necessarily got their jobs back.

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Response to mahatmakanejeeves (Original post)

Thu Oct 29, 2020, 07:56 AM

2. These are numbers provided by TrumpCo

so I can't say I believe them.

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Response to mahatmakanejeeves (Original post)

Thu Oct 29, 2020, 07:56 AM

3. From the source:

Last edited Thu Nov 5, 2020, 09:42 AM - Edit history (1)

https://www.dol.gov/ui/data.pdf

News Release

Connect with DOL at
https://blog.dol.gov

TRANSMISSION OF MATERIALS IN THIS RELEASE IS EMBARGOED UNTIL
8:30 A.M. (Eastern) Thursday, October 29, 2020

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS
SEASONALLY ADJUSTED DATA


In the week ending October 24, the advance figure for seasonally adjusted initial claims was 751,000, a decrease of 40,000 from the previous week's revised level. The previous week's level was revised up by 4,000 from 787,000 to 791,000. The 4-week moving average was 787,750, a decrease of 24,500 from the previous week's revised average. The previous week's average was revised up by 1,000 from 811,250 to 812,250.

The advance seasonally adjusted insured unemployment rate was 5.3 percent for the week ending October 17, a decrease of 0.5 percentage point from the previous week's revised rate. The previous week's rate was revised up by 0.1 from 5.7 to 5.8 percent. The advance number for seasonally adjusted insured unemployment during the week ending October 17 was 7,756,000, a decrease of 709,000 from the previous week's revised level. The previous week's level was revised up 92,000 from 8,373,000 to 8,465,000. The 4-week moving average was 9,053,250, a decrease of 1,055,750 from the previous week's revised average. The previous week's average was revised up by 23,250 from 10,085,750 to 10,109,000.

{snip}

UNADJUSTED DATA

{snip. Emphasis mine}

The total number of people claiming benefits in all programs for the week ending October 10 was 22,654,453, a decrease of 415,727 from the previous week. There were 1,411,728 persons claiming benefits in all programs in the comparable week in 2019.

{snip the rest of the twelve-page news release, until the end}

Weekly Claims Archives
Weekly Claims Data

U.S. Department of Labor news materials are accessible at http://www.dol.gov. The Department's Reasonable Accommodation Resource Center converts Departmental information and documents into alternative formats, which include Braille and large print. For alternative format requests, please contact the Department at (202) 693-7828 (voice) or (800) 877-8339 (federal relay).

U.S. Department of Labor
Employment and Training Administration
Washington, D.C. 20210
Release Number: USDL 20-2020-NAT

Program Contacts:
Thomas Stengle: (202) 693-2991
Media Contact: (202) 693-4676

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Response to mahatmakanejeeves (Reply #3)

Thu Oct 29, 2020, 11:06 AM

8. why give anyone

an ability to point this out as a trump positive. He has loaded his administration with incompetents, liars and Dejoys and Devos's.

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Response to llashram (Reply #8)

Thu Oct 29, 2020, 11:18 AM

11. YMBNH. NT

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Response to mahatmakanejeeves (Reply #11)

Thu Oct 29, 2020, 11:34 AM

12. NOPE, AM NOT

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Response to mahatmakanejeeves (Original post)

Thu Oct 29, 2020, 08:46 AM

5. 21.2 MILLION PEOPLE Unemployed more than a year ago -- let's stop looking at this in a positive vain


"The total number of people claiming benefits in all programs for the week ending October 10 was 22,654,453, a decrease of 415,727 from the previous week. There were 1,411,728 persons claiming benefits in all programs in the comparable week in 2019."

THat is a ton of people and only includes those who are
a) eligible for benefits -- so many gig workers do not count (like my wife)
b) have not expired their benefits
c) underemployed -- working part time hours

The real numbers of how many people are devastated by this mishandling of the virus are staggering.

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Response to JT45242 (Reply #5)

Thu Oct 29, 2020, 08:55 AM

6. Of course it's crap

But that won't stop them from spinning it

"I CREATED MORE JOBS THAN ALL THE OTHER PRESIDENTS COMBINED!!!! VOTE FOR ME OR SLEEPY JOE WILL BAN YOUR JOB!!!!"

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Response to JT45242 (Reply #5)

Fri Oct 30, 2020, 09:32 AM

14. this

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Response to mahatmakanejeeves (Original post)

Thu Oct 29, 2020, 09:54 AM

7. Does anyone trust this info 5 days before the election -- from a narcissistic, corrupt,

authoritative administration that is concurrently is going down in flames "yugely"?

Come on America -- keep your wits about you!

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Response to mahatmakanejeeves (Original post)

Thu Oct 29, 2020, 11:15 AM

10. Sounds like bullshit

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Response to mahatmakanejeeves (Original post)

Thu Oct 29, 2020, 10:53 PM

13. These are new claims...all newly laid off people. Consider that there have been from

750,000 to 1,000000 people laid off every month since April. At the worst time in 2008, we were losing a million jobs per month. And I can tell you my hubs finally got a job after 7 months of being laid off...there were 100's of applicants for every job. We live in Ohio and he is an engineer. The job situation is desperate and people here in Ohio are losing their homes and going hungry. Most everyone will be out of unemployment in late December. Small businesses are now closing too. Todays numbers included a time where the stimulus was saving jobs. But McConnell the burn it down GOP did nothing to send help to the people...Hoover Trump.

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Response to Demsrule86 (Reply #13)

Fri Oct 30, 2020, 09:39 AM

15. this truth

and Ohioans loves them some trump. And just like the people who had to stand in the bitter cold for 2 to three hours, in Omaha, as AF1 fly into the sky with trump laughing at the fools below who will vote for chump Tuesday, many of those in Ohio who are losing their homes and beginning to feel hunger pangs WILL vote for chump Tuesday also. That's the hate that has filled the minds of many a person under the tutelage of a trump White House.

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Response to mahatmakanejeeves (Original post)

Fri Oct 30, 2020, 09:43 AM

16. Oh, for the good old days when unemployment claims were 125,000-130,000 a week!

Seriously, this mis-administration is pushing "only "751,000 jobless claims as an improvement? They should be ashamed, not bragging.

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