iM-Weekly Unemployment Monitor
Today’s DOL Unemployment Insurance indicates a tepid recovery in employment situation albeit that both initial claims and continued claims decreased against the previous week, but persons receiving some form of benefit increased from 11.3% to 12.6% of the labor force.
The DOL reported unadjusted initial claims, totaled 709,458 (or 0.5% of covered employment) in the week ending March 6, a decrease of 47,170 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 4,584,706, a decrease of 263,642 from the preceding week.
However, the total number of people claiming benefits in all programs for the week ending February 20 was 20,116,302, an increase of 2,087,376 from the previous week.
Please refer The iM-Weekly Unemployment Monitor