iM-Weekly Employment Monitor, 12/17/2020

iM-Weekly Unemployment Monitor

The 12/17/2020 DOL Unemployment Insurance indicates a stagnant insured employment situation with initial claims near last weeks and the reported number of persons claiming benefits in all programs increased by 1.6 million from prior week

The non-seasonal adjusted initial claims totaled 935,138 in the week ending December 12, again over 900,000 and a small decrease of 21,335 from the previous week. This makes up 0.64% 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 5,492,701, a decrease of 312,357 from the preceding week, a decrease probably attributed to exhausting benefits.

Also, total number of people claiming benefits in all programs for the week ending November 28 was 20,646,779, an increase of 1,603,281 from the previous week.

Please refer The iM-Weekly Unemployment Monitor