Sci-tech

Labor Department To Increase Unemployment Amount For Some Mainers

Labor Department To Increase Unemployment Amount For Some Mainers”

There were almost 1 million claims for pandemic unemployment assistance, an increase of 20,000 from the previous week, which includes an increase in NY by 7,250 claims.

MI pandemic unemployment assistance claims declined by 2,949 to 23,609 for the week ending July 18. It's the lowest number of claims since the week of April 11, when there were 199,910 claims filed.

Both initial claims and continuing claims were reported to have decreased.

According to MI estimates, there were 21,836 new unemployment claims during the week ending July 18, versus 27,720 the week prior, the Department of Labor reports. "In Northeast Tennessee, the numbers have gone up and down much as they have statewide".

In comparison, the same week the year earlier had 211,000 new claims.

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The increase defied analysts' expectations of another weekly decrease in new claims, which spiked in March as United States businesses shut down to stop the spread of coronavirus put have been dropping since.

Regular unemployment claims were also down with 50,647 compared to 54,526 the week before. Sullivan County has a total of 4,868 claims.

Why it matters: Enhanced unemployment benefits - an extra $600 per week - authorized under the coronavirus stimulus bill are set to expire in coming days, leaving millions of Americans with a smaller financial cushion as cases spike amid the worst economic downturn of our lifetime.

New jobless claims across the nation increased by 109,000 to 1.4 million nationally during the week ended July 11, when compared to the week prior, according to the Department of Labor weekly report released Thursday morning. Before the pandemic, applications had never exceeded 700,000.

The weakening of the labor market has raised fears that the economy will shed jobs again in July, after two sharp hiring gains in May and June, and derail prospects for a recovery from the recession.

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