Another 1.5 million workers filed jobless claims last week

[mahatmakanejeeves]

Source: Washington Post

Another 1.5 million workers filed jobless claims last week

While some jobs are coming back slowly as local economies reopen, the Federal Reserve chief on Wednesday said he’s concerned about the depths of this recession and warns that some jobs have been lost permanently.

By Eli Rosenberg
44 minutes ago

Read more: https://www.washingtonpost.com/business/2020/06/11/unemployment-claims-coronavirus/

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https://www.dol.gov/ui/data.pdf

News Release

Connect with DOL at https://blog.dol.gov

TRANSMISSION OF MATERIALS IN THIS RELEASE IS EMBARGOED UNTIL 8:30 A.M. (Eastern) Thursday, June 11, 2020

COVID-19 Impact
The COVID-19 virus continues to impact the number of initial claims and insured unemployment.
This report includes information on claimants filing Pandemic Unemployment Assistance and
Pandemic Emergency Unemployment Compensation claims.

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS
SEASONALLY ADJUSTED DATA

In the week ending June 6, the advance figure for seasonally adjusted initial claims was 1,542,000, a decrease of 355,000 from the previous week's revised level. The previous week's level was revised up by 20,000 from 1,877,000 to 1,897,000. The 4-week moving average was 2,002,000, a decrease of 286,250 from the previous week's revised average. The previous week's average was revised up by 4,250 from 2,284,000 to 2,288,250.

The advance seasonally adjusted insured unemployment rate was 14.4 percent for the week ending May 30, a decrease of 0.2 percentage point from the previous week's revised rate. The previous week's rate was revised down by 0.2 from 14.8 to 14.6 percent. The advance number for seasonally adjusted insured unemployment during the week ending May 30 was 20,929,000, a decrease of 339,000 from the previous week's revised level. The previous week's level was revised down by 219,000 from 21,487,000 to 21,268,000. The 4-week moving average was 21,987,500, a decrease of 404,750 from the previous week's revised average. The previous week's average was revised down by 54,000 from 22,446,250 to 22,392,250.

[sop]

1. Guess today's not another "great day" for George Floyd...or anyone else.

"Hopefully George is looking down right now and saying this is a great thing that is happening for our country. This is a great day for him. It's a great day for everybody. This is a great, great day in terms of equality." - Trump bragging about fake unemployment rate numbers.

[yaesu]

2. many, many jobs aren't coming back, just look at Starbucks announcement yesterday

if we were a manufacturing based economy we would have a chance but a service based economy is not going to pull us through the coming depression.

[LudwigPastorius]

3. Meanwhile, red state governors continue to relax quarantine...

so they won't have to pay unemployment.

"You can go back to work, so stop sponging off the state! Those of you whose jobs disappeared can reeducate yourselves to perform new jobs in the burgeoning body disposal business."

There will be a quarter of a million dead by the election in November. Mark my words.