Extra large jobless claims jump from 716k to 853k

Extra large jobless claims jump from 716k to 853k - Printable Version

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Extra large jobless claims jump from 716k to 853k - Mick - 12-10-2020

Initial unemployment claims skyrocketed to 853,000 last week, highest number since September 19. Economists had been expecting 730k. The total number of continued weeks claimed for benefits in all programs for the week ending November 21 was 19,043,429, a decrease of 1,120,049 from the previous week. There were 1,535,274 weekly claims filed for benefits in all programs in the comparable week in 2019:

https://www.cnbc.com/2020/12/10/weekly-jobless-claims.html
https://www.dol.gov/ui/data.pdf

People are stealing to survive, shoplifting food to survive the COVID pandemic:

https://www.chron.com/news/article/Stealing-to-survive-More-Americans-are-15790516.php

NYC Homelessness at record levels:

https://newyork.cbslocal.com/2020/12/09/covid-pandemic-driving-homelessness-in-nyc-to-record-levels-advocates-say/

RE: of immense proportions jobless claims jump to 853,000 - OutsiderFan - 12-10-2020

(12-10-2020, 01:23 PM)Mick Wrote: Initial unemployment claims skyrocketed to 853,000 last week, highest number since September 19. Economists had been expecting 730k. The total number of continued weeks claimed for benefits in all programs for the week ending November 21 was 19,043,429, a decrease of 1,120,049 from the previous week. There were 1,535,274 weekly claims filed for benefits in all programs in the comparable week in 2019.
:
https://www.cnbc.com/2020/12/10/weekly-jobless-claims.html
https://www.dol.gov/ui/data.pdf

People are stealing to survive, shoplifting food to survive the COVID pandemic:

https://www.chron.com/news/article/Stealing-to-survive-More-Americans-are-15790516.php

NYC Homelessness at record levels:

https://newyork.cbslocal.com/2020/12/09/covid-pandemic-driving-homelessness-in-nyc-to-record-levels-advocates-say/

All the Homeless should caravan to Mitch McConnell's house and demand he bring the bi-partisan Covid relief bill to floor for debate.

RE: of immense proportions jobless claims jump to 853,000 - Mick - 12-10-2020

(12-10-2020, 01:45 PM)OutsiderFan Wrote:
(12-10-2020, 01:23 PM)Mick Wrote: Initial unemployment claims skyrocketed to 853,000 last week, highest number since September 19. Economists had been expecting 730k. The total number of continued weeks claimed for benefits in all programs for the week ending November 21 was 19,043,429, a decrease of 1,120,049 from the previous week. There were 1,535,274 weekly claims filed for benefits in all programs in the comparable week in 2019.
:
https://www.cnbc.com/2020/12/10/weekly-jobless-claims.html
https://www.dol.gov/ui/data.pdf

People are stealing to survive, shoplifting food to survive the COVID pandemic:

https://www.chron.com/news/article/Stealing-to-survive-More-Americans-are-15790516.php

NYC Homelessness at record levels:

https://newyork.cbslocal.com/2020/12/09/covid-pandemic-driving-homelessness-in-nyc-to-record-levels-advocates-say/

All the Homeless should caravan to Mitch McConnell's house and demand he bring the bi-partisan Covid relief bill to floor for debate.

I'm sure SF and LA would appreciate that.

RE: of immense proportions jobless claims jump to 853,000 - OutsiderFan - 12-10-2020

(12-10-2020, 04:16 PM)Mick Wrote:
(12-10-2020, 01:45 PM)OutsiderFan Wrote:
(12-10-2020, 01:23 PM)Mick Wrote: Initial unemployment claims skyrocketed to 853,000 last week, highest number since September 19. Economists had been expecting 730k. The total number of continued weeks claimed for benefits in all programs for the week ending November 21 was 19,043,429, a decrease of 1,120,049 from the previous week. There were 1,535,274 weekly claims filed for benefits in all programs in the comparable week in 2019.
:
https://www.cnbc.com/2020/12/10/weekly-jobless-claims.html
https://www.dol.gov/ui/data.pdf

People are stealing to survive, shoplifting food to survive the COVID pandemic:

https://www.chron.com/news/article/Stealing-to-survive-More-Americans-are-15790516.php

NYC Homelessness at record levels:

https://newyork.cbslocal.com/2020/12/09/covid-pandemic-driving-homelessness-in-nyc-to-record-levels-advocates-say/

All the Homeless should caravan to Mitch McConnell's house and demand he bring the bi-partisan Covid relief bill to floor for debate.

I'm sure SF and LA would appreciate that.

As would many, many other cities.

RE: Extra large jobless claims jump from 716k to 853k - BostonCard - 12-10-2020

Perspective from an economist who owns his own restaurant:

[tweet]https://twitter.com/ModeledBehavior/status/1337165924042993664?s=20[/tweet]

BC

RE: Extra large jobless claims jump from 716k to 853k - BostonCard - 12-10-2020

https://www.cnbc.com/2020/12/10/coronavirus-stimulus-update-congress-fights-over-relief-bill.html

Honey badger don't care, and apparently, neither does McConnell.

BC

RE: Extra large jobless claims jump from 716k to 853k - chrisk - 12-10-2020

In March, many people thought it was a good idea to keep people employed by giving money to the employers. If an employee is going to be laid off, it doesn't matter much the size of the employer. If you only care about helping people after they are unemployed, it is more straight forward to pay them unemployment directly.

Rather than complain about the US plan which was pushed through in a rush, it would be more productive to review what Germany does since it has much more experience doing payroll support.

The biggest waste of hundreds of billions of dollars to Americans who were employed and had no specific need for additional money. That money could have been put to much better purposes.