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Additionally, not all claimants will actually receive unemployment benefits. [1] The report is released weekly at 08:30 Eastern Time on Thursdays. The data in the report is collected from state unemployment agencies who report the information to the Department of Labor's Office of Unemployment Insurance.
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Unemployment insurance is funded by both federal and state payroll taxes. In most states, employers pay state and federal unemployment taxes if: (1) they paid wages to employees totaling $1,500 or more in any quarter of a calendar year, or (2) they had at least one employee during any day of a week for 20 or more weeks in a calendar year, regardless of whether those weeks were consecutive.
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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.
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Jobless claims dropped by 7,000 to 227,000 last week, the Labor Department reported Thursday. Weekly filings for unemployment benefits, which are a proxy for layoffs, remain low by historic standards.