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Jobless claims head higher: 898,000 Americans filed for unemployment benefits

October 15, 2020. Summarized by summa-bot.

MIAMI, FLORIDA - JULY 10: A protester holds a sign that reads, ' I need to work, I want to work,' as she joins with restaurant owners, workers and supporters to protest new measures stating restaurants must close their indoor seating to combat the rise in coronavirus cases on July 10, 2020 in Miami, Florida. Restaurant owners in Miami-Dade County say county Mayor Carlos Gimenez???s decision to close restaurant dining halls amid the surge in COVID-19 cases is unfair to them as other businesses stay open. Protest organizers claim there is no clear evidence that closing them is part of a realistic plan that will effectively manage the current crisis in the spread of COVID and they should be able to stay open. (Photo by Joe Raedle/Getty Images)

For yet another week hundreds of thousands of American workers filed for unemployment benefits.

New York (CNN Business)For yet another week hundreds of thousands of American workers filed for unemployment benefits.

Americans filed another 898,000 first-time jobless claims last week on a seasonally-adjusted basis, according to the Department of Labor.

On top of regular jobless claims, 372,891 Americans filed for Pandemic Unemployment Assistance, a program designed in response to the pandemic to help those not usually eligible for unemployment benefits such as the self-employed.

That was down 91,000 claims from the prior week.

Adding those together, total first-time claims stood at about 1. 3 million last week.

Continued jobless claims, which count workers who have filed for benefits for more than two weeks in a row, stood at 10 million.

That's down around 1. 2 million from the prior week.

States provide up to 26 weeks of aid before workers move on to other government programs, such as the Pandemic Emergency Unemployment Compensation program.

The number of workers receiving PEUC benefits climbed by more than 800,000, to 2. 8 million in the week ended September 26.

Another $27 billion was spent on President Donald Trump's Lost Wages Assistance program, which used disaster aid funding to provide another $300 a week to the unemployed for up to six weeks.

So far this month, $10. 5 billion has been spent on unemployment benefits and nearly $4 billion in Lost Wages Assistance, according to Treasury Department data through October 13.

Twenty states have borrowed more than $36. 5 billion to cover their share of payments, which typically last 26 weeks, according to Treasury Department data.

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