iM-Weekly Employment Monitor, 4/2/2021

 

iM-Weekly Unemployment Monitor

The 4/2/2021 BLS Employment Situation Report shows that the unemployment rate dropped 0.12% to 6.0%. The BLS reports 9.972 million are unemployed whereas the4/1/2021 DOL reports that 18.213 million persons receive some form of unemployment benefit, or 11.4% of the labor force.

The DOL reported unadjusted initial claims, totaled 714,433 (0.5% of Covered employment) in the week ending March 27, an increase of 63,282  from the previous week The 50 year long term average of initial claims as a percentage of Covered Employment  (January 1971 to today) is 0.38% and the average of the last business cycle (July 2009 to March 2020) is 0.24%

The advance unadjusted level of insured unemployment in state programs totaled 4,142,940, a decrease of 90,696 from the preceding week

However, the total number of people claiming benefits in all programs for the week ending March 13 was 18,213,575, a decrease of 1,517,926 from the previous week.

 

Please refer The iM-Weekly Unemployment Monitor