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The number of people receiving benefits after an initial week of aid, a proxy for hiring, slipped 5,000 to a seasonally adjusted 1.874 million during the week ending Dec. 7, the claims report showed.
The number of people receiving benefits after an initial week of aid, a proxy for hiring, fell 18,000 to a seasonally adjusted 1.859 million during the week ending Jan. 4, the claims report showed.
Initial claims for state unemployment benefits fell 2,000 to a seasonally adjusted 231,000 for the week ended Aug. 24. Economists polled by Reuters had forecast 232,000 claims for the latest week.
In the United States, there is a standard of 26 weeks of unemployment compensation, known as "regular unemployment insurance (UI) benefits".As of December 2020, the U.S. has three programs for extending unemployment benefits: [1] Emergency Unemployment Compensation (EUC), Extended Benefits (EB), and Pandemic Emergency Unemployment Compensation (PEUC).
The four-week average of claims, which smoothes out some of the volatility in the data, increased 5,500 to 232,750 last week. That was the highest reading since mid-September.
Initial claims should not be confused with the number of people who actually receive unemployment benefits. For one, initial claims don't include continued claims—individuals who claim benefits for additional weeks of unemployment beyond their initial claim. Additionally, not all claimants will actually receive unemployment benefits. [1]
The previous record for unemployment claims in one week was only about one fifth as high, at 695,000 claims in 1982. [33] More than 38 million Americans lost their jobs and applied for government aid, [34] [35] including nearly 4 million people in California, [36] in the eight weeks after the coronavirus pandemic began.
Economists polled by Reuters had forecast 236,000 claims for the latest week. Claims broke above the upper end of their 194,000-245,000 range for this year. The four-week moving average of claims ...