Another 778,000 Americans filed first-time unemployment claims last week

The recovery in the American job market is still painf...

Posted: Nov 25, 2020 6:10 PM

The recovery in the American job market is still painfully slow. Another 778,000 people filed for first-time unemployment benefits last week on a seasonally adjusted basis.

That was more than the 735,000 initial jobless claims that economists were expecting, and it's also higher than last week's revised number of 748,000. It's the second straight week that first-time claims rose.

This is the first time that jobless claims were up for two consecutive weeks since late July. And the 778,000 figure was the highest level in five weeks.

The latest unemployment benefits figures were released by the Labor Department on Wednesday, a day earlier than usual because of the Thanksgiving holiday.

The report also showed that continued jobless claims, which include people who have applied for benefits for at least two weeks in a row, was 6.1 million on a seasonally adjusted basis. That was down from the previous week.

And 4.5 million more people had received Pandemic Emergency Unemployment Compensation benefits from the government as of the week of November 7. There is a two-week lag with PEUC data.

Overall, more than 20.4 million Americans were still receiving some form of unemployment benefits as of November 7. That's an increase of more than 135,000 from a week ago.

The bleak jobs data is yet another sign of the disconnect between the stock market and broader economy.

The Dow just a hit a new all-time high above 30,000 Tuesday but many average Americans are still struggling — especially that government stimulus checks have stopped coming and Covid-19 cases are on the rise again.

"More stringent social distancing policies are being put in place each day. Stay-at-home measures, school closures, and limitations for businesses to operate are going to lead to more layoffs over the winter. It is going to get worse before it gets better," said Thomas Simons, money market economist with Jefferies, in a report.

There are growing hopes that President-elect Joe Biden will focus on forging a new stimulus deal with Congress after his inauguration in January and that a Covid-19 vaccine could be widely available in 2021. But that does nothing for people who are out of work now.

"It is quite clear that the intensification of the pandemic, the pullback by the public and government mandated lockdowns are clearly combining to cause an increase in first time claims," said Joseph Brusuelas, chief economist with RSM US, in a report Wednesday morning.

"Despite the potential arrival of a mass produced and distributed vaccine, this economy demands fiscal aid now," he added.

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 660942

Reported Deaths: 12556
CountyCasesDeaths
Marion905601638
Lake48352874
Allen35762635
Hamilton32026396
St. Joseph29865511
Elkhart25350414
Vanderburgh21225377
Tippecanoe19977200
Johnson16319356
Porter15938269
Hendricks15801300
Clark11928180
Madison11730316
Vigo11578229
Monroe10312161
Delaware9830179
LaPorte9755196
Howard9047196
Kosciusko8549109
Bartholomew7440147
Warrick7403150
Hancock7394130
Floyd7189169
Wayne6630191
Grant6422157
Morgan6075125
Boone607288
Dubois5895111
Dearborn546866
Cass543399
Henry541793
Marshall5417104
Noble508578
Jackson464366
Shelby460190
Lawrence4179111
Gibson400881
Harrison398763
Clinton395053
Montgomery386283
DeKalb384678
Miami356763
Knox356485
Whitley348936
Huntington342376
Steuben337855
Wabash330876
Putnam329459
Ripley326861
Adams322549
Jasper315443
White297252
Jefferson294473
Daviess285396
Fayette271456
Decatur270488
Greene261280
Posey260531
Wells257674
Scott249950
Clay240844
LaGrange240770
Randolph225576
Spencer217030
Jennings214744
Washington210427
Sullivan203139
Fountain201142
Starke187951
Owen181953
Fulton178237
Jay177628
Carroll176418
Perry173235
Orange171150
Rush164322
Vermillion160242
Franklin159335
Tipton146141
Parke138815
Pike127432
Blackford120627
Pulaski106444
Newton96531
Brown94939
Benton91813
Crawford90313
Martin80014
Warren75513
Switzerland7537
Union67110
Ohio53211
Unassigned0431

Ohio Coronavirus Cases

Data is updated nightly.

Cases: 966154

Reported Deaths: 17237
CountyCasesDeaths
Franklin1116881202
Cuyahoga953321735
Hamilton73102963
Montgomery47187886
Summit40041955
Butler35377468
Lucas35149761
Stark29267838
Warren22334274
Lorain21938389
Mahoning19373541
Lake18335305
Clermont18304210
Delaware16385135
Licking14923200
Fairfield14476157
Trumbull14270461
Greene13536213
Medina13327218
Clark12210335
Wood11481193
Portage10958159
Allen10761235
Richland10236205
Miami9999189
Muskingum8139129
Columbiana8094182
Pickaway8022101
Tuscarawas8012235
Marion7973137
Wayne7843219
Erie6852184
Ross6114136
Geauga6036128
Hancock5973112
Ashtabula5928144
Scioto5911104
Lawrence522474
Union509752
Darke5021124
Belmont490189
Huron4776117
Jefferson4770108
Sandusky475595
Seneca4648103
Athens461232
Washington459387
Mercer4581101
Auglaize454898
Shelby440769
Knox400586
Putnam3982101
Madison391447
Ashland378395
Fulton377564
Defiance3706102
Brown368842
Crawford356196
Logan352959
Preble352471
Clinton339364
Highland326855
Ottawa322367
Williams301477
Jackson288556
Guernsey285734
Champaign285146
Fayette267644
Perry267143
Morrow258925
Henry245465
Hardin243656
Holmes2430104
Coshocton233847
Van Wert228849
Gallia221346
Adams215432
Pike214428
Wyandot209053
Hocking193449
Carroll180228
Paulding159623
Meigs134637
Noble128442
Monroe116036
Morgan100534
Harrison100132
Vinton76615
Unassigned00
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