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U.S. Jobless Claims Rise Amid Coronavirus Resurgence
The number of people filing initial jobless claims in the U.S. reversed course last week from a pattern it had been following since this fall. The Labor Department reported on Thursday unemployment applications rose to 853,000 last week. That is the highest it has been since September. Initial claims applications stood at 716,000 the previous week.
The rise in claims seems to support a view that companies are trimming workforces, mainly as a result of the rising number of COVID-19 cases. By comparison, the weekly initial claims number averaged 225,000 before the pandemic hit earlier this spring.
The largest increases in initial claims for the week ending November 28 were in Illinois (+8,535), Oregon (+5,461), Colorado (+1,905), Indiana (+1,746), and Louisiana (+1,735), while the largest decreases were in California (-37,803), Texas (-14,123), Michigan (-10,976), Georgia (-9,905), and Washington (-7,881).
The advance seasonally adjusted insured unemployment rate was 3.9% for the week ending November 28, an increase of 0.1 percentage point from the previous week. The highest insured unemployment rates in the week ending November 21 were in Alaska (6.3%), California (6.3%), New Mexico (6.1%), Nevada (6.0%), Hawaii (5.6%), Massachusetts (5.1%), District of Columbia (5.0%), Illinois (5.0%), Washington (4.7&), and Georgia (4.6%).
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Economy


