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Weekly Jobless Claims Remain High

This morning, the Department of Labor announced that initial unemployment insurance claims rose to 462,000, an increase of 13,000 from last week’s 449,000,

Jul 31, 2020
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This morning, the Department of Labor announcedthat initial unemployment insurance claims rose to 462,000, an increase of 13,000 from last week’s 449,000, itself revised up from 445,000. The four-week moving average, which smooths out the jumpy weekly data, rose to 459,000.
Weekly1.jpg
Weekly1.jpg
Weekly claims need to fall at least 60,000 or 70,000 per week — into the 300,000s — to bring down the overall unemployment rate. But they have remain stuck around the 450,000 level for nearly eleven months, even though the recession is technically over and the economy is recovering, if slowly. Thus, the unemployment rate has hovered above 9.5 percent for 17 months.
Hajra Shannon

Hajra Shannon

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Hajra Shannona is a highly experienced journalist with over 9 years of expertise in news writing, investigative reporting, and political analysis. She holds a Bachelor's degree in Journalism from Columbia University and has contributed to reputable publications focusing on global affairs, human rights, and environmental sustainability. Hajra's authoritative voice and trustworthy reporting reflect her commitment to delivering insightful news content. Beyond journalism, she enjoys exploring new cultures through travel and pursuing outdoor photography
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