U.S. Jobless Claims Rise a Second Week in Sign of Growing Risks
Source: Bloomberg News
Markets
U.S. Jobless Claims Rise a Second Week in Sign of Growing Risks
By Olivia Rockeman
July 30, 2020, 8:33 AM EDT Updated on July 30, 2020, 9:00 AM EDT
-- State continuing claims also increase by most since early May
-- Congress may let $600 weekly benefit expire without deal
The number of Americans filing for unemployment benefits increased for a second straight week, a sign the economic rebound is increasingly at risk with Congress poised to potentially let supplemental $600 payments expire.
Initial claims through regular state programs rose to 1.43 million in the week ended July 25, up 12,000 from the prior week, a Labor Department report showed Thursday. There were 17 million Americans filing for ongoing benefits through those programs in the period ended July 18, up 867,000 from the prior week -- the largest increase since early May.
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Read more: https://www.bloomberg.com/news/articles/2020-07-30/u-s-jobless-claims-rise-a-second-week-in-sign-of-growing-risks
From the source:
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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, July 30, 2020
COVID-19 Impact
The COVID-19 virus continues to impact the number of initial claims and insured unemployment. This report includes
information on claimants filing Pandemic Unemployment Assistance and Pandemic Emergency Unemployment
Compensation claims.
UNEMPLOYMENT INSURANCE WEEKLY CLAIMS
SEASONALLY ADJUSTED DATA
In the week ending July 25, the advance figure for seasonally adjusted initial claims was 1,434,000, an increase of 12,000 from the previous week's revised level. The previous week's level was revised up by 6,000 from 1,416,000 to 1,422,000. The 4-week moving average was 1,368,500, an increase of 6,500 from the previous week's revised average. The previous week's average was revised up by 1,750 from 1,360,250 to 1,362,000.
The advance seasonally adjusted insured unemployment rate was 11.6 percent for the week ending July 18, an increase of 0.5 percentage point from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending July 18 was 17,018,000, an increase of 867,000 from the previous week's revised level. The previous week's level was revised down by 46,000 from 16,197,000 to 16,151,000. The 4-week moving average was 17,058,250, a decrease of 435,500 from the previous week's revised average. The previous week's average was revised down by 11,500 from 17,505,250 to 17,493,750.
{Snip the rest of the eleven-page release.}
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