iM-Weekly Employment Monitor, 11/6/2020

iM-Weekly Unemployment Monitor

The 11/5/2020 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 738,166 in the week ending October 31, a decrease of 543 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 24 was 6,951,731 a decrease of 537,898 from the preceding week.

The continued decreases in the continues insured unemployment (CC-NSA) is near equally attributable to an improvement in the economy and from exhausting benefits. For the period week ending 09/19/2020 to 10/17/200 CC-NSA decreased by 4.133M (from 11.622M to 7.489M) whereas the BLS report an increase of 2.243M, employed over the same period.

Please refer The iM-Weekly Unemployment Monitor