iM-Weekly Employment Monitor, 1/14/2021

iM-Weekly Unemployment Monitor

The 1/14/21 weekly DOL Unemployment Insurance Report indicates a possible end of the tepid recovery from the Covid-19 crisis; both initial claims and continued claims increased against the previous week.

The non-seasonal adjusted initial claims totaled 1,151,015 in the week ending January 9, an increase of 231,335 from the previous week. (Compared to 956,791 initial claims on 1/10/2009, the peak during the Great Recession). This makes up 0.79% 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 5,856,230, an increase of 474,180 from the preceding week.

However, the total number of people claiming benefits in all programs for the week ending December 26 was 18,406,940, a decrease of 744,511 from the previous week.

Please refer The iM-Weekly Unemployment Monitor