iM-Weekly Employment Monitor, 10/122/2020

iM-Weekly Unemployment Monitor

The 10/22/2020 DOL Unemployment Insurance Weekly Claims indicates continued improvement in the insured employment situation even though the initial claims remain stubbornly high.

The non-seasonal adjusted initial claims totaled 756,617 in the week ending October 17, a decrease of 73,125 from the previous week.  The non-seasonal adjusted continuous insured unemployment totaled 7,992,238, a decrease of 1,018,737 from the preceding week. Also,  total number of people claiming benefits in all programs for the week ending October 3 was 23,150,427, a decrease of 1,046,493 from the previous week.

If the above decreases in the continues insured unemployment and in persons claiming benefit are not due to exhaustion of benefits, but from increase in employment, then the economy is a path to recovering. The next BLS’s Employment Situation Summary due November 6 will clarify this.

Please refer The iM-Weekly Unemployment Monitor