US Sees Initial Weekly Jobless Claims Rise Above 1,000,000 Again

It appears that the celebration put on last week following positive unemployment data was short lived. While last week commentators were celebrating that less than 1,000,000 initial jobless claims were filed, it seems things may have been a bit premature.

The latest jobless data has seen initial claims rise above the one million market yet again during the week ending August 15, with a total of 1,106,000 claims made for the week. The bright side, is that the figure is still below the four week moving average, which currently sits at 1,175,750, with the average declining by 79,000 from the previous week.

The insured unemployment rate meanwhile fell to 10.2%, down from 10.6% in the week prior, while the seasonally adjusted unemployment figure came in at 14,844,000, a decrease of 636,000 from the prior week.

Meanwhile, the total number of people claiming benefits across all programs fell to 28,059,349, a decline of 197,601 from the prior week. When compared to the year over year comparison of 1,704,382 persons claiming benefits in such programs in the same period of 2019, its easy to see a path of economic destruction lead by the virus, despite what markets might currently indicate.


Information for this briefing was found via US Department of Labour. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

What Happens If Silver Finally Breaks $50? | Gary Thompson – Silver47

Recommended

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

ESGold Signs MOU For Tailings Project In Colombia With Grades Up To 42 g/t Gold, 280 g/t Silver

Related News

US Jobless Claims Unexpectedly Increase From Pandemic-Low

First-time applications for unemployment benefits unexpectedly rose last week, as fears over the new Omicron...

Friday, December 17, 2021, 10:20:00 AM

Record 2 Million Jobs Were Permanently Cut Since Beginning of 2020 as COVID-19 Continues to Batter US Labour Market

Despite the lifting of restrictions and reopening of economies across many states, the US labour...

Sunday, September 6, 2020, 11:31:00 AM

US Unemployment Rate Falls to 6.2%, Pushing 10-Year Treasuries to New Highs

The highly anticipated payrolls report was forecast to show a significant improvement in the US...

Friday, March 5, 2021, 04:01:00 PM

US Labour Market Weakening as November Hiring Falls to Slowest Pace Since July

As coronavirus cases continue to soar across the US with daily cases exceeding the 100,000...

Thursday, December 3, 2020, 10:26:36 AM

Canada’s Employment Numbers Back to 1980’s Level Amid COVID-19 Pandemic

According to preliminary Canada Emergency Response Benefit (CERB) data, the number of unemployment claims since...

Tuesday, April 28, 2020, 08:16:54 AM