iM-Weekly Employment Monitor, 10/29/2020

iM-Weekly Unemployment Monitor

The 10/29/2020 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 732,223 in the week ending October 24, a decrease of 28,354 from the previous week.  The non-seasonal adjusted continuous insured unemployment totaled 7,422,454, a decrease of 662,405  from the preceding week.Also,  total number of people claiming benefits in all programs for the week ending October 10 was 22,654,453, a decrease of 415,727 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