{"id":176031,"date":"2020-09-24T19:16:00","date_gmt":"2020-09-25T00:16:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2020\/09\/24\/initial-claims-remain-at-horrific-levels\/"},"modified":"2020-09-24T19:16:00","modified_gmt":"2020-09-25T00:16:00","slug":"initial-claims-remain-at-horrific-levels","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2020\/09\/24\/initial-claims-remain-at-horrific-levels\/","title":{"rendered":"Initial Claims Remain at Horrific Levels"},"content":{"rendered":"<p><a href=\"https:\/\/i.imgur.com\/Wkr9HsE.png\"><img decoding=\"async\" src=\"https:\/\/i.imgur.com\/Wkr9HsE.png\" style=\"cursor: pointer; float: right; margin: 0px 0px 10px 10px;\" width=\"350\" \/><\/a><\/p>\n<p>Initial unemploument claims <a href=\"https:\/\/www.wsj.com\/amp\/articles\/weekly-jobless-claims-coronavirus-09-24-2020-11600889767\">rose by 4,000 to 870,000<\/a>.&nbsp;<\/p>\n<p>So, still above any weekly claims level that was not in 2020.<\/p>\n<p>If you are wondering why the steep drop and then a flattening out, probably because the aid programs stopped:<\/p>\n<blockquote><p><span style=\"color: #2b00fe;\">The number of applications for unemployment benefits has held steady in September at just under 900,000 a week, as employer uncertainty about the economic recovery six months into the <a href=\"https:\/\/www.wsj.com\/articles\/coronavirus-latest-news-09-24-2020-11600936005\">coronavirus pandemic<\/a> continued to restrain hiring gains. <\/p>\n<p>Jobless claims <a href=\"https:\/\/www.dol.gov\/ui\/data.pdf\">increased slightly to 870,000<\/a> last week from 866,000 a week earlier, according to Thursday\u2019s Labor Department report. The totals remain well above pre-pandemic peaks but are down significantly from nearly seven million in March. <\/p>\n<p>The labor market has added jobs in the prior four months after steep declines in employment at the beginning of the pandemic, helping bring down the <a href=\"https:\/\/www.wsj.com\/articles\/august-jobs-report-unemployment-rate-2020-11599166207\">jobless rate to 8.4%<\/a> in August from near 15% in April. But the pace of gains has slowed recently, and persistently elevated jobless claims in September point to continued cooling in the jobs market. <\/span><\/p><\/blockquote>\n<p>This is not a good economy. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Initial unemploument claims rose by 4,000 to 870,000.&nbsp; So, still above any weekly claims level that was not in 2020. If you are wondering why the steep drop and then a flattening out, probably because the aid programs stopped: The number of applications for unemployment benefits has held steady in September at just under 900,000 &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[392,450,458,494],"class_list":["post-176031","post","type-post","status-publish","format-standard","hentry","tag-economy","tag-employment","tag-recession","tag-statistics"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/176031"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=176031"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/176031\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=176031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=176031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=176031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}