Pierre, SD, USA / DRGNews
Feb 25, 2021 9:09 AM
During the week of Feb. 14-20, a total of 439 initial weekly claims for state unemployment benefits were processed by the Department of Labor and Regulation. This is a decrease of 169 claims from the prior week’s total of 608.
A total of $1.5 million was paid out in state benefits, in addition to $1.4 million in Federal Pandemic Unemployment Compensation (FPUC), $94,000 in Pandemic Unemployment Assistance (PUA) and $303,000 in Pandemic Emergency Unemployment Compensation (PEUC) benefits.
The Unemployment Insurance Trust Fund balance was $155.1 million on Feb. 21.
The latest number of continued state claims is 5,453 for the week ending Feb. 13, a decrease of 208 from the prior week’s total of 5,661. This indicates the number of unemployed workers eligible for and receiving benefits after their initial claim.
Unemployment claims drop to lowest level since November By Irina Ivanova Weekly jobless claims decline
The number of Americans filing first-time unemployment claims dropped to its lowest level since late November, while the ranks of those receiving long-term jobless assistance swelled.
Roughly 730,000 people filed for unemployment benefits in the week ended February 20, the Labor Department said Thursday. That s a drop of 111,000 from the prior week. Another 451,000 people applied for Pandemic Unemployment Assistance, a federal program for self-employed and gig workers. Despite weekly directional changes, the magnitude of total initial claims is still extreme at 5.6 times higher than the pre-COVID era, AnnElizabeth Konkel, economist at the Indeed Hiring Lab, said in a note.
U.S. jobless claims decline by more than forecast last week
Olivia Rockeman, Bloomberg News Workers powder-coat components at a factory in Williamsburg, Iowa. Photographer: Daniel Acker/Bloomberg , Photographer: Daniel Acker/Bloomberg
Applications for U.S. state unemployment benefits fell by more than forecast last week to the lowest since November, signaling that job cuts are starting to ebb as COVID-19 infections decline and vaccinations accelerate.
Initial jobless claims in regular state programs decreased by 111,000 to 730,000 in the week ended Feb. 20, Labor Department data showed Thursday. The prior weekâs figures were revised down. On an unadjusted basis, claims fell by 131,734 to 710,313. Economists in a Bloomberg survey estimated 825,000 initial claims.