853K: #unemployment rises up dramatically again in #covid19 @USDOL

The United States Department Of Labor today reported a sharp increase of unemployment claims in the past week in the era of COVID19, jobless claims went up by 137,000 from last week’s revised number of 716,000 to 853,000, in the midst of states once again imposing shutdowns and reversing reopening phases thanks to COVID19 cases being the largest it’s ever been since March.

Even though still on the lowest end of the spectrum than it’s ever been here in the pandemic, the insured unemployment rate saw a small increase of 0.1 percent to land at 3.9 percent with no revisions from prior week needed, the actual number on insured unemployment increased by 230,000 to rise to 5,757,000, with last week’s figure revised by 7,000 from 5,520,000 to 5,527,000, and this week’s unemployment report on par with the rate of November job growth.

Daniel Quintanilla