iM-Weekly Employment Monitor, 11/12/2020

iM-Weekly Unemployment Monitor

The 11/12/2020 DOL Unemployment Insurance Weekly Claims indicates continued improvement in the insured employment situation even though the initial claims remain high, but trending towards the long-term average.

The non-seasonal adjusted initial claims totaled 723,105, a decrease of 20,799 from the previous week. This makes up 0.49% of the Covered Employment. The 50-year long-term average (January 1971 to today) is 0.38% and the average of the last business cycle (July 2009 to March 2020) is 0.24%.

The non-seasonal adjusted continuous insured unemployment totaled 6,486,000, a decrease of 402,298 from the preceding week.

Also, total number of people claiming benefits in all programs for the week ending October 24 was 21,157,111, a decrease of 374,179 from the preceding week.

Please refer The iM-Weekly Unemployment Monitor