Unemployment Archives - Zxcoachoutlet

Could Your Unemployment Benefits Run Out Before New Stimulus Aid Is Passed?

October 9, 2020

For the millions of Americans who’ve lost work during the pandemic, finding another job can be a challenge. Of those who are collecting unemployment benefits, the average time out of work is now over five months. Almost one in five has been unemployed for six months or more.

For many, unemployment benefits have been critical to their ability to cover the rent and other bills. Congress helped in the spring by passing the CARES Act, which provided $600 weekly supplemental benefits through July, additional federal benefits for contract and self-employed workers, and extended benefits for those who exhaust their state’s regular benefits. An executive action in August also allowed some unemployed Americans to collect as much as $1,800 more, depending on their state.

But if Congress doesn’t pass more stimulus aid this fall, it’s possible benefits may run out for millions before they find a new job. If you’re among

Sluggish Improvement in Unemployment Claims Distorted by California

October 9, 2020

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Initial Claims

There has very slight slight improvement in initial claims for six weeks.

For the weeks ending August 29, September 5, September 12, September 17, September 26, and October 3 there were 884,000, 893,000, 866,000, 873,000, 849,000, and 840,000 seasonally-adjusted claims respectively according to the Department of Labor.

Given margins of error on seasonally adjusted data there has been essentially no progress for six weeks.

Continued Claims

Continued State Unemployment Claims in 2020 October 7 Report

Continued claims lag initial claims by a week.

For the weeks ending August 29, September 5, September 17, and September 26, there were 13,554,000, 12,747,000, 12,747,000, 11,979,000, and 10,976,000 seasonally-adjusted claims respectively.

These numbers are continually revised.

The downward slope (pace of progress) has not changed since May.

It’s continued state claims that determine the official unemployment rate, not that anyone of intelligence believes the BLS number.

All Continued Claims

All Continued Claims are not seasonally adjusted. They also lag initial claims

Another 840,000 Americans filed for unemployment benefits last week as layoffs remain elevated

October 8, 2020

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Yardeni Research President Edward Yardeni and Cornerstone Macro Co-Founder Nancy Lazar discuss the September jobs report.

The number of Americans applying for state unemployment benefits remained historically high last week, indicating the pace of layoffs is still elevated even as the economy slowly recovers from the coronavirus pandemic.

The latest jobless claims figures from the Labor Department, which cover the week ending Oct. 2, show that 840,000 workers sought aid last week, about four-times the pre-crisis level. More than 63 million Americans have sought jobless aid since the coronavirus lockdowns began in mid-March.

Economists surveyed by Refinitiv expected 820,000 new claims. Last week’s figure was revised upward by 12,000 to 849,000.

The number of people who are continuing to receive unemployment benefits fell to 10.97 million, a decline of more than 1 million from the previous week.

NEARLY HALF OF AMERICANS WHO LOST JOB TO PANDEMIC CAN’T LAST A MONTH

Unemployment Is World’s Biggest Risk, Business Leaders Say | Investing News

October 7, 2020

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LONDON (Reuters) – Unemployment is seen as the biggest worry over the next 10 years for business executives around the world, closely followed by concern about the spread of infectious diseases, according to a survey by the World Economic Forum.

Unemployment rates have rocketed due to lockdowns and other restrictions to combat the coronavirus pandemic, with fears of worse to come in countries which have furloughed workers.

“The employment disruptions caused by the pandemic, rising automation and the transition to greener economies are fundamentally changing labour markets,” said Saadia Zahidi, Managing Director at the World Economic Forum (WEF).

“As we emerge from the crisis, leaders have a remarkable opportunity to create new jobs, support living wages, and reimagine social safety nets to adequately meet the challenges in the labour markets of tomorrow.”

The Regional Risks for Doing Business survey, which surveyed 12,012 business leaders from 127 countries, makes up part

Unemployment benefits may pay just $5 a week without stimulus deal

October 7, 2020

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U.S. President Donald Trump walks to Marine One on the South Lawn of the White House on October 1, 2020 in Washington, DC.

Drew Angerer | Getty Images

It appears unemployed workers won’t get another boost in their weekly benefits any time soon, after President Donald Trump pulled officials out of negotiations on a fifth round of coronavirus relief Tuesday.

The move abruptly dashed hopes of a deal on items such as enhanced unemployment benefits after weeks of talks between the White House and top congressional Democrats seemed to be bearing some fruit.

Absent more aid, jobless Americans will be living off their current allotment of benefits from the state or federal government. In some cases, that amounts to just $5 a week.

Even that money will disappear by the end of the year for millions of workers without more legislation — leaving them with no income if they’re unable

States Overpaid Virus Unemployment Claims, and They Want the Money Back

October 5, 2020

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States accidentally overpaid thousands of workers over the spring and summer during a rush to get relief to unemployed and idled Americans. Now they want the money back.

Even though the funds have long since been spent and many of those workers continue to struggle with the coronavirus pandemic’s economic fallout, people across multiple states are being asked to repay thousands of dollars or are having their current benefits cut to make up the difference.

Individuals themselves often have no idea they are being overpaid, in part because formulas for unemployment checks can be hard to decipher. Many also waited weeks to start receiving benefits, and say they believed that large checks were simply the back payments they were owed because of delays.

Autumn Stull owns a maternity and children’s consignment store in Golden, Colo. It temporarily closed in March when the state went into lockdown, so she applied for

Entrepreneurs Can Help Fix the Unemployment Crisis for Disabled Communities

October 3, 2020

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Over the past two weeks I’ve spent time with two individuals who represent the largest minority group in the United States: Americans with disabilities. The first, Ric Nelson, is a 37-year-old entrepreneur in Anchorage Alaska. Nelson has cerebral palsy and requires full-time assistance to manage his physical needs. Nelson is academically brilliant and highly energized to advance the interests of the disabled. He graduated in the top 10 percent of his high school class and, against high odds, used the scholarship he obtained to secure associate’s and bachelor’s degrees in Small Business Management and Business Administration. Most recently, he completed a master’s degree in Public Administration.

Nelson serves on multiple boards and after eight years of service became chair of the Governor’s Council on Disabilities and Special Education (GCDSE) for Alaska, where he is currently employed as Employment Program Coordinator. I learned from my discussion

US unemployment drops to 7.9 percent but hiring slows pre-election

October 3, 2020

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“There seems to be a worrisome loss of momentum,” said Drew Matus, an economist at MetLife Investment Management. “There’s a lot of caution on the part of employers.”

With September’s hiring gain, the economy has recovered slightly more than half the 22 million jobs wiped out by the coronavirus, which has now killed over 200,000 Americans and infected more than 7 million. With many businesses and customers plagued by fear and uncertainty, some economists say it could take as long as late 2023 for the job market fully recover.

This week, moreover, brought a new wave of layoff announcements reflecting the continuing slump in travel and tourism: Disney is cutting 28,000 jobs, Allstate will shed 3,800, and US airlines said as many as 40,000 employees are losing their jobs this month as federal aid to the industry expires.

In another problematic sign in Friday’s report, the number of laid-off workers

Unemployment falls, but hiring slows

October 2, 2020

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WASHINGTON (AP) — The final jobs report before Election Day a month from now showed hiring slowed in September even as the U.S. unemployment rate fell to 7.9% — a mixed result for President Donald Trump, who has staked his reelection in part on the economy.

The Labor Department said Friday that employers added just 661,000 jobs last month amid the coronavirus outbreak, down from 1.5 million in August and 1.8 million in July.

Unemployment fell from 8.4% in August, but that mainly reflected a decline in the number of people seeking work, rather than a surge in hiring. The government doesn’t count people as unemployed if they aren’t actively looking for a job.

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“There seems to be a worrisome loss of momentum,” said Drew Matus, an economist at MetLife

US Sees Dire Jobs Trends As Unemployment Falls To 7.9% In September

October 2, 2020

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The US unemployment rate dipped in September but government data points to a slowing recovery ahead of next month’s election, with the White House race suddenly thrown into chaos by President Donald Trump’s positive Covid-19 test.

The number of jobs added in September came in at a paltry 661,000, the Labor Department said on Friday, below expectations and less than half of the gains seen in August, even as the unemployment rate dipped to 7.9 percent.

The report is the last to be released before Trump, who is behind in the polls, faces Democratic challenger Joe Biden in the November election, and analysts fear the weak report and ongoing deadlock over more stimulus in Congress will undermine the economy’s recovery from the coronavirus downturn.

“The economy is a deep hole, and the rate at which we’re digging out is slowing,” University of Michigan economics professor Justin Wolfers said on Twitter.