New claims for unemployment insurance were 1.4 million on a seasonally-adjusted or an unadjusted basis for last week. As we have noted in past postings, these are very high numbers, although declining. Total numbers receiving unemployment have generally been falling or flat (although these numbers lag by one week). That fact suggests that people are exiting receiving unemployment insurance (presumably getting jobs) at least as fast as new people are becoming unemployed. As in prior weeks, California has a disproportionate share of individuals receiving unemployment benefits. See below for the national trends:
[Click on image to clarify.] |
[Click on image to clarify.] |
https://www.dol.gov/ui/data.pdf and
https://www.bls.gov/news.release/pdf/empsit.pdf.
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