New Unemployment Insurance Claims in the US, Highest Level Since August – Unexpected Rise – Bloomberg



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Last week, the number of new applications for unemployment insurance in the United States unexpectedly increased, the highest level since August. More and more people are moving into extended benefit programs. It was a worrying sign for the job market, where the recovery from the novel coronavirus pandemic is already slowing down.

Main point
  • The number of new applications for unemployment insurance (as of the end of October 10) was 898,000, an increase of 53,000 from the previous week under the normal state program.
    • The median forecast for economists compiled by Bloomberg is 825,000.
    • Revised to 845,000 (preliminary figure 840,000) last week
  • Pre-seasonal, the biggest weekly increase since July
Claims for Unemployment Benefits in the US Unexpectedly Increased Last Week

The number of beneficiaries of continuous unemployment insurance under the state program decreased by 1.17 million from the previous week to 10 million in the week ending October 3.

The decrease in the number of continuing beneficiaries may also partially reflect the shift to extended benefit programs for those who have completed their regular benefit period. Pre-seasonal, the number of people who have transitioned to Pandemic Emergency Unemployment Compensation (PEUC), a federal government program for people whose state benefits have expired, increased by 818,054 to 2.78 million in the week that ended on September 26. converted.

Although California has completed a two-week suspension of new applications for unemployment insurance, the number of applications remains frozen in mid-September, similar to the two previous statistics. A spokesperson for the Ministry of Labor explained that it would continue to use traditional figures until the state’s information situation was normalized.

Although California’s most populous state is not the most recent figure, statistics show that unemployment may be on the rise across the country. New applications for unemployment insurance have increased in states like Indiana, Illinois, Massachusetts, Georgia and Washington.

The PEUC number is two weeks late, but the number of applications has exploded in many states. Especially in California, New York, Michigan, and Pennsylvania.

See the table for details on the statistics.

Original title:Unemployment claims in the US hit their highest level since August with an unexpected jump (抜 粋)

(Add and update statistics details)

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