Unemployment benefits: Another 778,000 Americans filed claims for the first time last week

That was more than the 3535ists, 000 initial job claims economists expected, and even more than the 74,748,000 revised last week. It’s the second straight week that first-time claims have escalated.

This is the first time in two consecutive weeks that unemployment claims have been made since the end of July. And the 778,000 figure was the highest level in five weeks.

The report also states that claims of continuous employment, including those who have applied for benefits for at least two consecutive weeks, are 1.1 million on a case-by-case basis. It was down from last week.

And million. Millions of people received the benefit of the epidemic emergency unemployment compensation from the government until the week of November. There is a two-week lag with PEUC data.

Overall, as of November 7.4, more than 20.4 million Americans had received some form of unemployment benefit. T.The hats are up 135,000 more than a week ago.

Black jobs data is another indication of the connection between the stock market and the broader economy.

The Dow hit just 30,000.  There was a long way to go
The Dow is a new high of just over 1,000,000, but many average Americans are still struggling – especially as government stimulus investigations have stalled and Covid-1 cases are on the rise again.

“Stricter social distance policies are being put in place every day. Steps to stay at home, school closures and restrictions on running businesses are leading to more layoffs during the winter. It’s going to get worse before it happens. Better,” said Thomas Simmons. , A money market economist with Jefferies, said in a report.

There are growing hopes that President-elect Joe Biden will focus on a new stimulus deal with Congress after its inauguration in January and that the Covid-19 vaccine could be widely available in 2021. But it’s nothing for people who don’t work. Now.

RSM U.S. With the chief economist, Joseph Brucellas, said in a report on Wednesday morning, “It is very clear that the severity of the epidemic, the pull by the public and the mandatory lockdown by the government, is clearly joining the growth of first-time claims.”

He added, “Despite the potential arrival of mass-produced and distributed vaccines, the economy is now seeking financial assistance.”