Continued unemployment claims drop in Clark County

A closed sign hangs on a gated corridor in New York City. Thursday's report said the unemployment rate in the United States is 11.6%. File

Another 1.4 million U.S. workers file for unemployment

As of Thursday, another 28,000 New Jerseyans filed for unemployment, marking more than 1.44 million residents who've filed for jobless aid since the COVID-19 pandemic slammed into New Jersey and the Northeast in mid-March, forcing many businesses to shutter their doors. The unemployment rate is 11.6%, a half-point increase.

Residents of MA filed 4,155 initial PEUC claims in the week ending July 25, 612 lower than the previous week.

That is a decrease of 10.7 percent from the prior week. BLS had expected claims to fall by 180,650.

"We continue to see employment uncertainty reflected in the unemployment numbers as initial regular claims fluctuate week to week", ESD Commissioner Suzi LeVine said in a statement.

"The looming expiration of federal unemployment benefits without a clear-cut replacement threatens a chunk of consumer spending power that has sustained households and made its way back into the economy". "UI (unemployment insurance) was helping employment, not hurting it".

The Senate Republicans' 1-trillion-dollar proposal, revealed Monday, would slash the federal unemployment benefits from 600 dollars to 200 dollars through September, giving an unemployed worker about 70 percent of previous wages when combined with state benefits, while Democrats want to maintain the current level of benefits through January.

"Today's report provides even more evidence of prolonged labor market troubles and the need for the continuation of CARES Act aid", unemployment expert Andrew Stettner of the Century Foundation told IBTimes. That is an increase of 1,025 when compared with the week ending July 17.

Unemployment was highest for the week ending July 11 in Puerto Rico, Nevada, Hawaii, Louisiana and NY.

Unadjusted, 1.2 million people filed claims the first time, 171,000 fewerfrom last week Seasonal adjustments are traditionally used to smooth the data, but that has tended to have an opposite effect during the pandemic. MA residents filed 14,850 initial PUA claims last week.

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