Consumer spending falls in November for the first time since April
Updated Dec 23, 2020;
Posted Dec 23, 2020
A hiring sign shows outside of Gray M. Sanborn Elementary School in Palatine, Ill., Thursday, Nov. 5, 2020. Illinois reports biggest spike in unemployment claims of all states. (AP Photo/Nam Y. Huh)AP
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WASHINGTON The number of Americans seeking unemployment benefits fell by 89,000 last week to a still-elevated 803,000, evidence that the job market remains under stress nine months after the coronavirus outbreak sent the U.S. economy into recession and caused millions of layoffs.
The latest figure, released Wednesday by the Labor Department, shows that many employers are still cutting jobs as the pandemic tightens business restrictions and leads many consumers to stay home. Before the virus struck, jobless claims typically numbered around 225,000 a week before shooting up to 6.9 million in early spring when the virus and efforts to contain it flatten
Dec 22, 2020
The Oregon Employment Department is pleased that Congress has passed an extension of federal benefit programs, including Pandemic Unemployment Assistance (PUA) and Pandemic Emergency Unemployment Compensation (PEUC). Without an extension of PUA or PEUC, approximately 70,000 Oregonians would have lost a vital safety net after Dec. 26. We are glad Oregonians no longer have to worry about an abrupt end to this critical financial support.
We are moving quickly to make changes and implement the federal relief programs recently passed. Right now, we are waiting to receive rules and instructions from the U.S. Department of Labor. The holidays may impact how quickly the U.S. Dept. of Labor gets guidance to us; however, we will work through the holidays and do what we can to make programmatic changes and get benefits out the door as quickly as possible.
The DOL reported:
In the week ending December 19, the advance figure for
seasonally adjusted initial claims was 803,000, a decrease of
89,000 from the previous week s revised level. The previous week s level was revised up by 7,000 from 885,000 to
892,000. The 4-week moving average was 818,250, an increase of 4,000 from the previous week s revised average. The
previous week s average was revised up by 1,750 from 812,500 to 814,250.
emphasis addedThis does not include the 397,511 initial claims for Pandemic Unemployment Assistance (PUA) that was down from 454,471 the previous week.
The following graph shows the 4-week moving average of weekly claims since 1971.
Click on graph for larger image.
The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims increased to 818,250.
US layoffs still high as 803K seek aid – The Manila Times manilatimes.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from manilatimes.net Daily Mail and Mail on Sunday newspapers.
Dec 22, 2020
The Oregon Employment Department is pleased that Congress has passed an extension of federal benefit programs, including Pandemic Unemployment Assistance (PUA) and Pandemic Emergency Unemployment Compensation (PEUC). Without an extension of PUA or PEUC, approximately 70,000 Oregonians would have lost a vital safety net after Dec. 26. We are glad Oregonians no longer have to worry about an abrupt end to this critical financial support.
We are moving quickly to make changes and implement the federal relief programs recently passed. Right now, we are waiting to receive rules and instructions from the U.S. Department of Labor. The holidays may impact how quickly the U.S. Dept. of Labor gets guidance to us; however, we will work through the holidays and do what we can to make programmatic changes and get benefits out the door as quickly as possible.