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Thu Mar 4, 2021, 09:33 AM

Jobless claims: Another 745,000 Americans filed new unemployment claims

Source: Yahoo! Finance

Yahoo Finance

Jobless claims: Another 745,000 Americans filed new unemployment claims

Emily McCormick·Reporter
Thu, March 4, 2021, 8:30 AM

Weekly unemployment claims ticked up last week, picking up slightly after reaching the lowest level since November during the prior week.

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

-- Initial jobless claims, week ended February 27: 745,000 vs. 750,000 expected and 730,000 during the prior week

-- Continuing claims, week ended February 20: 4.295 million vs. 4.300 million expected and 4.419 million during the prior week

Initial jobless claims sank far more than expected during the week ended February 20, though at least some of the drop appeared to have stemmed from data collection issues due to the extreme winter weather blanketing the country mid-month. Still, new jobless claims were expected to tick up only modestly after the prior week's pronounced drop, suggesting some underlying improvements in unemployment trends.

{snip}

Read more: https://finance.yahoo.com/news/weekly-jobless-claims-week-ended-february-27-183810049.html

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Reply Jobless claims: Another 745,000 Americans filed new unemployment claims (Original post)
mahatmakanejeeves Mar 4 OP
mahatmakanejeeves Mar 4 #1
Marthe48 Mar 4 #2

Response to mahatmakanejeeves (Original post)

Thu Mar 4, 2021, 09:37 AM

1. From the source:

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, March 4, 2021

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS

SEASONALLY ADJUSTED DATA


In the week ending February 27, the advance figure for seasonally adjusted initial claims was 745,000, an increase of 9,000 from the previous week's revised level. The previous week's level was revised up by 6,000 from 730,000 to 736,000. The 4-week moving average was 790,750, a decrease of 16,750 from the previous week's revised average. The previous week's average was revised down by 250 from 807,750 to 807,500.

The advance seasonally adjusted insured unemployment rate was 3.0 percent for the week ending February 20, a decrease of 0.1 percentage point from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending February 20 was 4,295,000, a decrease of 124,000 from the previous week's unrevised level of 4,419,000. The 4-week moving average was 4,448,000, a decrease of 99,000 from the previous week's unrevised average of 4,547,000.

{snip}

UNADJUSTED DATA

{snip. Emphasis mine}

The total number of continued weeks claimed for benefits in all programs for the week ending February 13 was 18,026,537, a decrease of 1,018,763 from the previous week. There were 2,092,483 weekly claims filed for benefits in all programs in the comparable week in 2020.

{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 21-376-NAT

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

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Response to mahatmakanejeeves (Original post)

Thu Mar 4, 2021, 11:30 AM

2. My neighbor just lost his job

20 years. They eliminated his job because of Covid-19. They still have 2 kids at home.

He has a specialist career and might land on his feet, but they will probably have to move.

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