New Jobless Claims Decrease to 730,000, Economists Expected 845,000

The number of Americans filing new unemployment claims decreased to 730,000 last week as the economy continued to suffer the effects of the ongoing coronavirus pandemic, according to the Department of Labor.

The Bureau of Labor and Statistics figure released Thursday represented a decrease in the number of new jobless claims compared to the week ending Feb. 13, in which there were 841,000 new jobless claims reported. That number was revised down from the 861,000 jobless claims initially reported last week.

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New Jobless Claims Increase to 861,000, Economists Expected 773,000

The number of Americans filing new unemployment claims increased to 861,000 last week as the economy continued to suffer the effects of the ongoing coronavirus pandemic, according to the Department of Labor.

The Bureau of Labor and Statistics figure released Thursday represented an increase in the number of new jobless claims compared to the week ending Feb. 6, in which there were 848,000 new jobless claims reported. That number was revised up from the 793,000 jobless claims initially reported last week.

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Commentary: 4.4 Million Lose Unemployment Benefits Since August as Pelosi Puts Politics Above People

Small business relief, supporting 5.2 million small businesses and 50 million jobs, ran out on Aug. 8 and airlines ran out of money last month as massive layoffs have been ensuing.

In the meantime, House Speaker Nancy Pelosi (D-Calif.) continues to refuse a deal from President Donald Trump to extend these CARES Act programs — even if it means she loses a few seats in the House over it.

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Trump Signs Executive Orders to Extend Unemployment Benefits, Suspend Some Payroll Taxes, Defer

President Donald Trump on Saturday signed executive orders to supplement unemployment benefits for workers who lose their jobs during the coronavirus pandemic by $400 a week and suspend payroll taxes for those earning less than $100,000 a year.

He also signed orders freezing evictions in federal housing and deferring student loan payments through the end of 2020.

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COVID-19 Unemployment Claims Approach 39 Million Since Mid-March

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 nearly 39 million since mid-March.

According to data released Thursday by the U.S. Department of Labor, an additional 2.44 million workers filed for benefits in the week ending May 16. That’s down 249,000 from the revised number of claims filed in the week ending May 9.

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