October 16, 2020
The seasonally adjusted initial claims, advance estimate, increased by 53,000 to 898,000 for the week ending October 10 from the prior week’s revised level, according to the U.S. Department of Labour (DOL). The prior week’s level was revised upwards to 840,000 from 845,000. In comparison to the previous week’s average, the 4-week moving average was 866,250, an increase of 8,000.
The advance seasonally adjusted insured unemployment rate stood at 6.85% for the week ending October 3, a 0.9 percentage point decrease from the prior week’s revised rate.
Moreover, DOL stated that, “The advance number for seasonally adjusted insured unemployment during the week ending October 3 was 10,018,000, a decrease of 1,165,000 from the previous week’s revised level. The previous week’s level was revised up 207,000 from 10,976,000 to 11,183,000. The 4-week moving average was 11,481,750, a decrease of 682,250 from the previous week’s revised average. The previous week’s average was revised up by 51,750 from 12,112,250 to 12,164,000.” Additionally, 372,891 Americans filed for Pandemic Unemployment Assistance. This program was designed in response to the pandemic to assist those not usually eligible for unemployment benefits such as the self-employed. That was down 91,000 claims from the prior week.
Based on the unadjusted advance estimate, there were 885,885actual initial claims under state programs in the week ending October 10, an increase of 76,670 or 9.5% from the prior week. The seasonal factors had expected a rise of14,319 (or 1.8%) from the previous week. Furthermore, The seasonal factors had expected an increase of 23,144 (or 2.9 percent) from the previous week. There were 201,677 initial claims in the comparable week in 2019. In addition, for the week ending October 10, 51 states reported 372,891 initial claims for Pandemic Unemployment Assistance.
During the week ending October 3, the advance unadjusted insured unemployment rate stood at 6.6%, a 0.8 percentage point decline relative to the previous week. The advance unadjusted number for persons claiming UI benefits in state programs fell by 1,188,202 (or -11%) to 9,631,588 from a week earlier.
A total of 25,290,325 persons claimed benefits in all programs for the week ended September 26, a decrease of 215,270 compared to the prior week. This compares to 1,415,539 persons claiming benefits in all programs for the corresponding week in 2019.
Extended Benefits, during the week ending September 19, were accessible in the following 45 states: Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Montana, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, Tennessee, Texas, Vermont, the Virgin Islands, Virginia, Washington, West Virginia, and Wisconsin.
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