Unemployment Claims Down, But Recovery Remains Uneven

Gene J. Puskar  AP

"Our actions to tackle this fraud have saved taxpayers hundreds of millions of dollars, and we will continue to coordinate our investigation with the U.S. Department of Labor and the U.S. Attorney".

Continuing claims, the number of people receiving benefits after an initial week of aid, fell by 916,000 to about 12.6 million, below the 13 million expected by Refinitiv economists.

The report comes as a $300-a-week federal unemployment boost that President Trump issued at the beginning of August is beginning to expire in some states.

However, it does not include claims filed under other federal aid programs, including a program that provides benefits to those usually ineligible like the self-employed or gig workers.

The total number of people claiming unemployment insurance went up by about 100,000 to 29.7 million, as of August 29, the most recent week available for this statistic.

In addition, California's figures show a wide discrepancy with nationally-reported data on continuing PUA claims in California.

Century Foundation senior fellow Andrew Stettner told IBT Thursday's report "represents a major warning sign about the state of the economic recovery".

A third report from the Philadelphia Fed on Thursday showed factory activity in the mid-Atlantic region moderating in September, though manufacturers remained optimistic about growth over the next six months.

'Titanic battle': U.S. Supreme Court seat upends 2020 presidential campaign
Trump said Ginsburg was a "fighter to the end" - battling both cancer and "other very long odds" - throughout her life. Ginsburg was born to a Jewish family in NY and died on the eve of Rosh Hashanah, one of the most holy days in Judaism.

US stocks were trading lower.

As of September 12, out-of-work residents have received over $6.8 billion in CARES Act payments.

"Failure on the part of policymakers to enact another fiscal relief package poses significant downside risks to the economy and labor market as the recovery appears to be losing momentum", said Nancy Vanden Houten of Oxford Economics. A program to help businesses with wages lapsed in August, while $25 billion in government assistance for airline payrolls expires this month.

The economy added 1.371 million jobs in August and has recouped 10.6 million of the 22.2 million jobs lost at the depth of the coronavirus crisis.

Despite the improvement, last week's claims were still about four-times higher than they were before the pandemic.

More than a quarter-million people in Ohio are still unemployed, according to the most recent unemployment data released by the Ohio Department of Jobs and Family Services. But the decrease in the number of jobless people and the jobless rate mainly stemmed from the labor force falling by almost 90,000 people.

The overall economy, as measured by the gross domestic product, collapsed at an annual rate of 31.7% from April through June, by far the worst three months on record, as millions of jobs disappeared.

The housing market is being fueled by record low interest rates and a pandemic-fueled migration to suburbs and low density areas.

Related News:

Most liked

Trump's Northern Ireland envoy issues border warning - FT
We don't need lectures on the Northern Ireland peace deal from presidential candidate @JoeBiden . Pelosi released a statement after the visit.

2 dead, 14 wounded after mass shooting at New York backyard party
The identities of the two victims, one man and one woman, have not been made public pending notification of next of kin. Around 3 miles (5 kilometers) to the east, captured on video , a group gathered for prayer near the shooting site.

Best Apple Watch Series 6 Deals: Where to buy Apple's new smartwatch
In terms of cameras , it has a 12-megapixel rear camera like the iPad Pro but with enhanced video stabilization qualities. Both devices are nearly identical in size, with the new iPad Air being ever so slightly thicker than the iPad Pro.

Ig Nobel science award: An alligator on helium sounds like …?
The work informed investigations into the role of bellows in communicating body size in courtship and territorial claims. Winners receive a paper cube (which the recipients printed and folded themselves) and a note for $10,000,000,000,000.

Big Ten Conference reveals full schedule with unusual tweaks
For any team contending for a spot in the College Football Playoff, missed games could hurt their resume. The Terrapins' schedule includes another cross-division game at home against Minnesota .

Samsung Galaxy F41 expected to launch in India soon
This discount has been introduced on Samsung.com , nearest Samsung store, leading online portals and retail stores as well . In terms of connectivity, there is 4G LTE, Wi-Fi 6, Bluetooth 5.0, GPS/ A-GPS, NFC, and a USB Type-C port for charging.

Lokomotiv Plovdiv 1-2 Tottenham: Dramatic late turnaround prevents humiliating Spurs defeat
The north London club had only 19 minutes to turn things around or it could be a season with no European football. Spurs will now travel to North Macedonia for a one-off third qualifying round clash with Shkendija next Thursday.

New Cases; Five Hospitalized At BMH
No new cases were found in the Island Health region since Thursday, leaving the health authority's total number of cases at 196. Meanwhile, a total of 3,075 people are under public health monitoring due to exposure to known COVID-19 cases.

United States set to ban TikTok and WeChat downloads from Sunday
US companies such as Walmart and Starbucks that rely on WeChat to do business outside the United States can continue to do so. The orders were aimed at forcing TikTok's parent company, ByteDance , to sell off TikTok's United States operation entirely.

Health Department reports 24 new cases
The Laurel County Health Department reported its eighth COVID-19 death on September 15, which involved a 73-year-old female. It can take up to two weeks for symptoms of COVID-19 to develop and in that time, we can inadvertently spread it to others.

Why I Snubbed Liverpool For Chelsea - Timo Werner
But for a player's passing ability to really impress Frank Lampard whose vision produced over Premier League assists in his playing career, it must be on another level.

Biden says 2020 victor should pick Ruth Bader Ginsburg successor
Her death , leaving a seat vacant on the bench, will become a central issue to the USA presidential election in 45 days. Despite being diagnosed with cancer , she was a fighter and refused to step down from the court.

Apple takes a leap in computing with the new A14 bionic chip
For those unaware, CPUs or processors are made using billions of small transistors that switch on and off to perform calculations. Above all, it will be the first iPhone with 6GB RAM as the model that came before it only has 4GB RAM, reports GizmoChina.

Search for Migrant Boat as Powerful Storm Lashes Greece
He explained that the phenomenon is known as the " Mediterranean cyclone ", which first appeared in 1995 onwards. The heavy rainfall turned the city of Karditsa, in one of Greece's biggest plains, into a lake, TV images showed.

Package with Ricin Sent to White House, Addressed to President Trump
Ricin is found naturally in castor beans and can be made from the waste material left over when they are processed. This was not the first time someone has attempted to send President Trump ricin through the mail.