Georgia Unemployment Claims Reach Record High in April

Georgia Unemployment Claims Reach Record High in April

The number of filed claims and the number of people who filed claims are separate data, because individuals may have multiple claims counted in the raw claims numbers depending on their circumstances or eligibility for certain programs.

The Labor Department reported Thursday that 2.44 million Americans filed for first-time benefits in the week that ended May 16, bringing the total to some 38.6 million workers in the nine weeks since the coronavirus-induced lockdown has closed large parts of the US economy.

The number of initial unemplyment claims in the United States totalled to 2.4 million last week as the COVID-19 pandemic continues to sweep the nation, the Labor Department reported.

The state's labor department said April's seasonally adjusted statewide unemployment rate of 14.7% was a spike of 11.4% when compared to March's unemployment rate of 3.3%.

Even as much of the country eases restrictions and slowly begins to reopen state economies, new jobless claims continued their COVID-19 spike last week, increasing the total number of those filing for unemployment benefits to almost 39 million since mid-March.

With the initial claims numbers being distorted by processing issues, attention has shifted to the number of people staying on unemployment benefits rolls.

"The in a race for time: The longer it takes to fully reopen, the more likely that millions of seemingly temporary job losses become permanent", MarketWatch said. That's down from about 45,000 claims in the previous week.

This means that there were 29,446 individuals, who both live and work in the state of SC, filed an initial claim during the claim week, May 10-16.

Differences in how frequently people claim continued benefits in states are yet another reason why it's become more hard to get a precise read on week-to-week changes in the labor market at the state level.

Both states on Thursday released figures on initial filings for unemployment benefits. Florida, which has received more than 2 million total claims since March 15, has more than 200,000 filings in its queue awaiting verification.

The government reported that 6.1 million people had their applications for the PUA program processed in the week ending May 2. Continuing claims on that basis totaled 22.9 million for the week ended May 9, up from 20.9 million.

"Given what's going on is not part of any typical seasonal pattern or anything, I think the NSA data has given you probably a little bit better of a more accurate picture of what's going on in the data", Luzzetti said.



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