1.3 million people filed initial unemployment insurance claims last week

 

 

With millions of workers unemployed, anything less than a comprehensive relief package is simply bad economics.(Economic Policy Institute)

 


1.3 million people filed initial unemployment insurance claims last week

 

It is terrible economics to pause stimulus talks

Another 1.3 million people applied for unemployment insurance (UI) benefits last week. That includes 840,000 people who applied for regular state UI and 464,000 who applied for Pandemic Unemployment Assistance (PUA). PUA is the federal program for workers who are not eligible for regular unemployment insurance, like gig workers. It provides up to 39 weeks of benefits, but it is set to expire at the end of this year. The 1.3 million who applied for UI last week was a decline from 53,000 from the prior week’s revised figures, though trends over time should be interpreted with caution right now because California data are being imputed because they have temporarily paused its processing of initial claims. It is worth noting that today’s data on initial claims do not include any workers who may have been laid off or furloughed in the wake of President Trump tweeting earlier this week that he was halting stimulus talks (more on that below).

 

To read the entire article from the Economic Policy Institute:

 

1.3 million people filed initial unemployment insurance claims last week: It is terrible economics to pause stimulus talks

 

 

October 8, 2020