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The number of new applications for unemployment insurance in the US last week increased slightly from the previous week, against market expectations. It was clear that the economic recovery was intermittent.
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Ethan Harris, Head of Global Economic Research at Bank of America (BofA), told Bloomberg Television that “the recovery phase from a de facto suspension of economic activity is over and it is now intense in the labor market. We are entering a phase of advance against headwinds. Our statistics are consistent with that point of view. “
The increase in new applications for unemployment insurance may be due to mitigation of processing delays in California.
The number of new applications for unemployment insurance under the Federal Panddemic Unemployment Assistance (PUA) program decreased by approximately 45,000 from the previous week to approximately 630,000 in the week ending September 19 before the adjustment. The PUA applies to workers who are not covered by the regular unemployment insurance provided by each state, such as the self-employed and concert workers who do one-off jobs.
The number of recipients of Pandemic Emergency Unemployment Compensation (PEUC), a federal unemployment insurance continuation program, increased by approximately 104,000 from the previous week to the week ending September 5.
See the table for details on the statistics.
Original title:Unemployment Claims in the US Remain Elevated in Recovery from Adjustments and Beginnings （抜 粋）
Weekly Unemployment Claims in the US Increased 4K to 870K; Est. 840K （抜 粋）
(Update adding statistics details)
