Almost all jobless benefit recipients are now receiving only regular state unemployment payments because a federal weekly supplement of $300 has ended in almost all states.
There were 898,000 initial claims for unemployment benefits in the US during the week ending October 10th, the data published by the US Department of Labor (DOL) revealed on Thursday.
The extra cash is intended as a replacement for the $600 in weekly federal unemployment benefits workers received throughout the spring and summer. It's not just for state and local government.
Most states had to borrow billions of dollars to fund unemployment benefits during and after the Great Recession. "It's for folks who are unemployed who need a bridge to that better future that we all know is coming", Murphy said. Analysts expected Initial Jobless Claims of 825,000.
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At the same time, it expected that the Egyptian economy would achieve growth rates of 5.6 percent over the medium term by 2025. The uncertainty surrounding the baseline projection is unusually large.
After spending several weeks in a rut, barely improving, USA jobless claims moved higher in the week ending October 10 to 898,000. The government also said 373,000 people applied for jobless aid under a separate program that made the self-employed, contractors and gig workers eligible for unemployment benefits for the first time.
Without the extra benefits, he noted, most claimants would only receive around $200-$300 a week, though the amount varies significantly by state. And the average worker has collected almost $12,000 in benefits. The department has handled roughly 192,000 initial claims for the state unemployment program and 94,400 initial claims for the federal Pandemic Unemployment Assistance program. It indicates that those who have lost their jobs are finding new work. The damage to those industries has left millions of people unemployed likely for an extended period, until they are either recalled to their previous jobs or switch to new careers. Of those, 96% have received some money and tens of thousands are still waiting for benefits.
The highest insured unemployment rates are in Hawaii, California, and Nevada.
The New York Federal Reserve Bank's Empire survey was at 10.5 percent in October, a drop of about seven points from September but indicating manufacturing in New York state and parts of New Jersey and CT was expanding for the fourth consecutive month.