iM-Weekly Unemployment Monitor
![WCEM-Fig-1-1-21-2021](https://imarketsignals.com/wp-content/uploads/2021/01/WCEM-Fig-1-1-21-2021-100x100.png)
The initial claims and continued claims decreased against the previous week but remain at record levels. Also, the Covered Employment (a quarterly updated figure) decreased by 4,401,167, or 3%. This is a record; during the 2008 Great Recession, the greatest quarterly drop was 1.4%.
The non-seasonal adjusted initial claims totaled 960,668 in the week ending January 16, a decrease of 151,303 from the previous week (compared to 956,791 initial claims on 1/10/2009 the peak during the 2008 Great Recession), the sixth running week of over 800,000. This makes up 0.68% 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 in state programs totaled 5,563,048, a decrease of 203,750 from the preceding week.
The total number of people claiming benefits in all programs week ending January 2 was 15,994,519, a decrease of 2,412,508 from the previous week.
Please refer The iM-Weekly Unemployment Monitor
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