U.S. jobless claims declined last week by more than forecast
Olivia Rockeman, Bloomberg News VIDEO SIGN OUT
Applications for U.S. state unemployment benefits fell last week by more than forecast, a third straight decline that signals job cuts are starting to slow as COVID-19 infections ebb.
Initial jobless claims in regular state programs fell by 33,000 to 779,000 in the week ended Jan. 30, the lowest since November, Labor Department data showed Thursday. On an unadjusted basis, applications dropped to 816,247.
Continuing claims an approximation of the number of Americans filing for multiple weeks of state benefits decreased to 4.59 million in the week ended Jan. 23. Economists in a Bloomberg survey forecast 830,000 initial claims and 4.7 million continuing claims.
Feb 4, 2021 8:40 AM EST
Jobless claims dipped below 800,000 for the first time since November last week in a sign the labor market may be slowly recovering from the grip of the pandemic.
The Labor Department reported Thursday that 779,000 Americans filed for first-time jobless benefits in the week ended Jan. 30, down from a revised 812,000 claims the week earlier. Economists polled by FactSet had expected claims of 865,000.
Continuing claims, which are the number of people not just filing but staying on unemployment benefits, came in at 4.592 million for the week ended Jan. 23, down from the previous week s revised 4.785 million, the Labor Department said.
News to Know for Feb. 4: PEUC benefits delayed again; Henrico schoolsâ update; Dry, sunny day The PEUC program is one of two federal unemployment benefit programs extended until March 13, 2021, through the Continued Assistance Act signed by former President Donald Trump on Dec. 27, 2020. (Source: NBC12) By Adrianna Hargrove | February 4, 2021 at 7:06 AM EST - Updated February 4 at 7:09 AM
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Key Unemployment Benefits Expire Next Month Can Democrats Pass Relief Before Then?
On 2/4/21 at 11:39 AM EST
Democrats are running full steam ahead with budget reconciliation a process that could allow them to pass President Joe Biden s $1.9 trillion coronavirus relief plan with zero GOP support as millions of Americans stand to lose unemployment aid next month.
The enhanced federal unemployment benefits authorized in the last stimulus package, signed into law by former President Donald Trump, will expire March 14. That includes Pandemic Emergency Unemployment Compensation, for Americans who exhausted their state unemployment benefits, and Pandemic Unemployment Assistance, for those who lost their jobs and don t qualify for regular state benefits.