iM-Weekly Employment Monitor, 12/4/2020

iM-Weekly Unemployment Monitor

The 12/10/2020 DOL Unemployment Insurance

indicates a stagnant insured employment situation with both initial claims and continued claims increasing against the previous week.

The non-seasonal adjusted initial claims totaled 947,504 (an 18 week high) in the week ending December 5, an increase of 228,982 from the previous week. This makes up 0.65% 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 5,780,893, an increase of 533,336 from the preceding week. This increase breaks a 13 week running streak of decreases and contrasts the recent steep decreases due to persons exhausting unemployment benefits

Also, total number of people claiming benefits in all programs for the week ending November 21 was 19,043,429, a decrease of 1,120,049 from the previous week, a decrease more likely from persons exhausting benefits rather than entering the labor market.

Please refer The iM-Weekly Unemployment Monitor