WASHINGTON, D.C. (February 25, 2021)–today the US Department of Labor released its weekly unemployment claims. The claims fell lower than expected last week, as the labor market recovers from the COVID-19 lockdown. All though the claims fell for the first time in five weeks– most Americans have exhausted their six months of continuing state unemployment benefits. But Congress has failed to pass a stimulus package to help the people.
“In the week ending February 20, the advance figure for seasonally adjusted initial claims was 730,000, a decrease of 111,000 from the previous week’s revised level. The previous week’s level was revised down by 20,000 from 861,000 to 841,000. The 4-week moving average was 807,750, a decrease of 20,500 from the previous week’s revised average. The previous week’s average was revised down by 5,000 from 833,250 to 828,250,” Labor reported.
“The advance seasonally adjusted insured unemployment rate was 3.1 percent for the week ending February 13, a decrease of 0.1 percentage point from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending February 13 was 4,419,000, a decrease of 101,000 from the previous
week’s revised level. The previous week’s level was revised up 26,000 from 4,494,000 to 4,520,000. The 4-week moving average was 4,547,000, a decrease of 91,500 from the previous week’s revised average. The previous week’s average was revised up by 6,500 from 4,632,000 to 4,638,500,” Labor Department further reported.
Source: US Department of Labor