California

California unemployment claims drop – Daily News

California’s unemployment claims plummeted last week, falling below 100,000 for the second time since the government ordered a business outage to fight the coronavirus, the government reported Thursday.

According to the US Department of Labor, California workers filed their first claims of 89,500 unemployment in the week ending February 20.

According to the Labor Department, in the United States, workers filed 730,000 initial unemployment claims in the week ending February 20, down 111,000 from 841,000 claims filed in the week ending February 13. did.

A claim break below the 100,000 benchmark could bring a bright spot to California’s job market. This has been hit by a business outage.

In 45 of the last 47 weeks, California has over 100,000 unemployment claims, as shown by an analysis of unemployment claims. In addition to last week, other modest exceptions to the 11-month disastrous unemployment report occurred only in the week leading up to January 23.

Despite the decline in unemployment claims, California’s unemployment claims are high compared to weekly US claims.

Last week, California’s workforce accounted for only 11.8% of the country’s workforce, while California accounted for 12.6% of all unemployment claims filed nationwide. The comparison is based on numbers that are not adjusted for seasonal fluctuations.

The number of US claims was the lowest since late November and the sharpest week-long decline since August. Still, before the virus broke out in March last year, weekly unemployment allowance applications did not exceed 700,000.

The latest figures are in line with the weakening of the job market, which has made slight progress in the last three months. From November to January, the average number of hires was 29,000 per month. The unemployment rate in January was 6.3%, but the broader measure, including those who gave up job hunting, is approaching 10%.

Overall, as of February 6, 19 million people were receiving unemployment assistance. It increased from 18.3 million last week. Approximately three-quarters of these recipients receive checks from federal benefit programs, including programs offered by most states that provide unemployment assistance for more than 26 weeks.

The Associated Press contributed to this report.

California unemployment claims drop – Daily News Source link California unemployment claims drop – Daily News

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