Congress Passes New Bill! Unemployment Extension $300/ $400 PUA
Find out how a minimum of 1 million Americans have filed unemployment each week for nearly 11 months, the latest on job growth and unemployment during the month of January, and which state was able to save upwards of $2 billion that could have been lost due to fraud.
A recent report from Axios shows that for the past 46 weeks in a row, at least 1 million Americans have filed some form of unemployment.
Julia Coronado, President of MacroPolicy Perspectives, explained: “For almost a year initial claims for unemployment benefits have exceeded the highest levels seen in the Great Recession.”
She continued: “It’s hard to understate the extreme disruption that is still ongoing in the labor market.”
Coronado also stated: “Net job creation has slowed … and it is way too soon to settle into a slower pace of job creation given the deep hole we are still in.”
Hopefully, the decrease in weekly initial claims can put an end to this 46-week streak, as more Americans find employment and get back into the workforce.
Meanwhile, the monthly employment report for the month of January was released earlier today, displaying some decent but not enthusiastic figures concerning Americans finding employment.
While the unemployment rate fell to 6.3% and 49,000 jobs were added to payrolls last month, some experts guessed that upwards of a quarter-million positions would be gained.
Our pals at the Dow Jones guessed an increase of 50,000 jobs, but Citigroup was waaaaay off, predicting 250,000 positions added to payrolls in January.
Robert Frick, the corporate economist at Navy Federal Credit Union, explained: “Though we gained jobs in January after a December loss, this is not a we’ve-turned-the-corner report.”
He continued: “We especially shouldn’t take solace that the unemployment rate fell dramatically given that’s mainly because more Americans dropped out of the labor force.”
I completely agree that we aren’t out of the woods yet, and still need the extended enhanced unemployment benefits…