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Thu May 6, 2021, 08:35 AM

New jobless claim fell to a fresh pandemic-era low of 498,000 last week

Source: Yahoo! Finance

New jobless claim fell to a fresh pandemic-era low of 498,000 last week

Emily McCormick Reporter
Thu, May 6, 2021, 8:30 AM

New weekly jobless claims set a new pandemic-era low last week, falling below 500,000 for the first time since March 2020, with initial filings trending decidedly lower in recent weeks amid the pick-up in economic activity.

The Department of Labor released its weekly report on new jobless claims Thursday at 8:30 a.m. ET. Here were the main metrics from the report, compared to consensus data compiled by Bloomberg:

-- Initial jobless claims, week ended May 1: 498,000 vs. 538,000 expected and 553,000 during the prior week

-- Continuing claims, week ended April 24: 3.690 million vs. 3.620 million expected and 3.660 million during the prior week

Consensus economists expected initial unemployment filings to hold below 600,000 for a fourth straight week, dipping to the lowest level since mid-March 2020. Thursday's print showed an even more marked decline.

Initial filings have slid over the course of the past year, pulling back sharply from a pandemic-era high of more than 6 million. New claims during the comparable week last year totaled nearly 3 million, but have held below 1 million since August 2020 as layoffs and other separations slowed.

{snip}

Read more: https://finance.yahoo.com/news/weekly-jobless-claims-week-ended-may-1-2021-pandemic-181819635.html

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Reply New jobless claim fell to a fresh pandemic-era low of 498,000 last week (Original post)
mahatmakanejeeves May 6 OP
mahatmakanejeeves May 6 #1
Lovie777 May 6 #2
durablend May 6 #3

Response to mahatmakanejeeves (Original post)

Thu May 6, 2021, 08:39 AM

1. From the source:

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, May 6, 2021

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS

SEASONALLY ADJUSTED DATA


In the week ending May 1, the advance figure for seasonally adjusted initial claims was 498,000, a decrease of 92,000 from the previous week's revised level. This is the lowest level for initial claims since March 14, 2020 when it was 256,000. The previous week's level was revised up by 37,000 from 553,000 to 590,000. The 4-week moving average was 560,000, a decrease of 61,000 from the previous week's revised average. This is the lowest level for this average since March 14, 2020 when it was 225,500. The previous week's average was revised up by 9,250 from 611,750 to 621,000.

The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending April 24, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending April 24 was 3,690,000, an increase of 37,000 from the previous week's revised level. The previous week's level was revised down by 7,000 from 3,660,000 to 3,653,000. The 4-week moving average was 3,675,750, a decrease of 6,750 from the previous week's revised average. This is the lowest level for this average since March 28, 2020 when it was 3,611,750. The previous week's average was revised down by 1,500 from 3,684,000 to 3,682,500.

{snip}

UNADJUSTED DATA

{snip. Emphasis mine}

The total number of continued weeks claimed for benefits in all programs for the week ending April 17 was 16,157,024, a decrease of 404,509 from the previous week. There were 17,847,707 weekly claims filed for benefits in all programs in the comparable week in 2020.

{snip the rest of the twelve-page news release, until the end}

Weekly Claims Archives
Weekly Claims Data

U.S. Department of Labor news materials are accessible at http://www.dol.gov. The Department's Reasonable Accommodation Resource Center converts Departmental information and documents into alternative formats, which include Braille and large print. For alternative format requests, please contact the Department at (202) 693-7828 (voice) or (800) 877-8339 (federal relay).

U.S. Department of Labor
Employment and Training Administration
Washington, D.C. 20210
Release Number: USDL 21-839-NAT

Program Contacts:
Thomas Stengle: (202) 693-2991
Media Contact: (202) 693-4676

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Response to mahatmakanejeeves (Original post)

Thu May 6, 2021, 08:48 AM

2. My understanding . . .

that the aid's package did not hinder employment hiring, so the notion and myth that people receiving monies from this package, i.e. LAZY bullshit overall was effing false.

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Response to Lovie777 (Reply #2)

Thu May 6, 2021, 07:00 PM

3. No matter.

South Carolina is the next state that's going to cut off unemployment soon

https://www.wistv.com/2021/05/06/gov-mcmaster-requests-termination-federal-pandemic-unemployment-programs/

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