New Unemployment Claims Top 1 Million for 13 Consecutive Weeks
Jun 20 2020
Continued weekly unemployment claims, which represent people who have filed for benefits a few times, declined for the seventh straight week in the state, according to the Ohio Department of Job and Family Services. The U.S. government will issue its latest snapshot Thursday, June 18, of the layoffs that have left millions unemployed but have slowed as businesses have increasingly reopened and rehired some of their laid-off workers. The new figures revise Georgia's April jobless rate up to 12.6% from the originally announced 11.9%, which itself was an all-time high since the current figures started being kept in 1976.
The latest figure released Thursday marked the 11th straight weekly decline in applications since they peaked at almost 7 million in March as the coronavirus shut down much of the economy and caused tens of millions of layoffs.
That number has decreased significantly in recent weeks once states began relaxing restrictions.
About 4,900 Nebraskans filed for jobless benefits last week, according to the U.S. Department of Labor.
The advance seasonally adjusted insured unemployment rate was 14.1 per cent for the week ending June 6, unchanged from the previous week's revised rate.
- Story courtesy of The Center Square.
It was the first time initial applications fell below 20,000 since early March. That's the highest monthly jobless rate Tennessee has ever recorded.
US Federal Reserve Chairman Jerome Powell said in a virtual Congressional hearing on Tuesday that despite the economy bouncing back, "the levels of output and employment remain far below their pre-pandemic levels". That's more than twice the previous record, set in 2010. Yet "until the public is confident that the disease is contained, a full recovery is unlikely".
Earlier this week, the state's unemployment compensation fund ran out of money, forcing OH to borrow $3.1 billion from the federal government.
Another 2,900 people filed for payments under the federally-funded Pandemic Unemployment Assistance program, which makes payments to freelancers and others who aren't eligible for state unemployment benefits.