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Soaring unemployment benefits: a major step in the wrong direction



The Labor Department reported on Thursday that an additional 965,000 people applied for first unemployment benefits on a seasonally adjusted basis last week.
This is much higher than the level of the previous week, when 784,000 Americans applied for unemployment benefits.
The number of people applying for unemployment benefits for the first time each week remains at a disturbingly high level. In late August, this number fell below 1 million, but since then it has been difficult to make significant progress-last week represented a big step in the wrong direction.
In addition to regular claims, 284,470 workers filed claims for pandemic unemployment assistance. The program provides assistance to people who do not have regular benefits such as self-employed or odd jobs. After the new stimulus agreement expands the plan, the plan is scheduled to end in March.

Add up, last week̵

7;s original benefit claims totaled 1.4 million, excluding seasonal adjustments.

As of the week of January 2nd, the number of workers who claimed for at least two consecutive weeks had applied for assistance, which was 5.3 million.

This is a developing story.Will be updated


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