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Huge step in the wrong direction: Unemployment claims soar

January 14, 2021. Summarized by summa-bot.

Compression ratio: 64.6%. 1 min read.

Mandatory Credit: Photo by JUSTIN LANE/EPA-EFE/Shutterstock (11700603e) A pedestrian walks past a closed retail store in New York, New York, USA, on 08 January 2021. The United States' Bureau of Labor Statistics released data today showing that the US economy lost 140,000 jobs in December and that the unemployment rate is at 6.7 percent as businesses continue to struggle with the economic impact of the coronavirus pandemic. Coronavirus Economy Impact, New York, USA - 08 Jan 2021

The American jobs crisis is escalating again.

Another 965,000 people filed for first-time unemployment benefits on a seasonally adjusted basis in the United States last week, the Labor Department reported Thursday.

That was substantially higher than the previous week, in which 784,000 Americans filed for unemployment benefits.

Weekly first-time jobless claims are stuck at an uncomfortably high level.

On top of regular claims, 284,470 workers filed claims for Pandemic Unemployment Assistance.

The program provides aid to people like the self-employed or gig workers, who aren't covered under regular benefits.

Added together, initial benefit claims totaled 1. 4 million last week, excluding seasonal adjustments.

Continued claims, which count workers who have claimed aid for at least two weeks in a row, stood at 5. 3 million in the week ended January 2.

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