California unemployment claims increased slightly last week, but remained below 100,000 for the second straight week.
The U.S. Department of Labor reported on Thursday that state-wide workers filed about 72,000 first unemployment claims in the week leading up to April 17, up about 3,000 from the 69,000 claims filed last week. It was.
The latest unemployment application in California is the sixth in the last 57 weeks, with less than 100,000 unemployed claims. Business suspensions and restrictions under government orders began in mid-March 2020.
Nationally, unemployment claims totaled 547,000 for the week ending April 17, down 39,000 from the 586,000 claims filed for the week ending April 10.
Despite the signs of hope in the total furlough, the current level of unemployed billing is well above the typical weekly amount before the start of a business outage.
Between January and February 2020, California had an average of 44,800 unemployment claims per week.
However, over the last four weeks, unemployed claims in California averaged 98,500 per week. This is more than double the weekly average before COVID in early 2020.
Trends in the United States
Weekly unemployment claims in the United States have fallen sharply from the peak of 900,000 in early January. At the same time, it far exceeds the level of about 250,000 that was prevalent before the outbreak of the virus hit the economy in March last year.
In the week ending April 3, the latest period of data availability, approximately 17.4 million people continued to collect unemployment benefits, up from 16.9 million last week.
The overall job market is growing steadily. Last month, employers across the country added 916,000 jobs, the highest number since August, as a sign that a sustainable recovery has taken hold. The unemployment rate fell from 6.2% to 6%, well below the pandemic peak of nearly 15%.
Still, the still high number of continuous beneficiaries means that millions of people (disproportionately low-income workers and people of color) will be unemployed and earned, even if the economy has strengthened in recent weeks. Shows that you continue to endure the loss of and struggle to pay bills or rent.
Weekly data on unemployment allowance applications is generally considered a rough measure of layoffs. This is because only those who have lost their jobs without their own negligence are eligible. However, during the pandemic, the numbers became an unreliable barometer.
Many states are struggling to clear unemployed claims, and allegations of fraud have clouded the actual amount of headcount reductions. In addition to the usual state unemployment assistance, an additional $ 300 a week in federal unemployment allowance may have prompted more people to apply for benefits.
So far, the economy is steadily showing signs of recovery. Retail and restaurant sales surged 10% in March, the largest increase since May last year. A $ 1,400 federal stimulus check was sent to most adults. And Americans who have continued to work are accumulating additional savings, which could be partly spent now that states and cities have relaxed business restrictions and the virus has declined.
The Associated Press contributed to this report.
California jobless claims rise but still below 100,000; U.S. numbers fall – Orange County Register Source link California jobless claims rise but still below 100,000; U.S. numbers fall – Orange County Register