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Unemployment benefits jump: A huge step in the wrong direction

Another 965,000 people applied for benefits for the first time seasonally adjusted in the United States last week, the Department of Labor said on Thursday.
That was significantly higher than the previous week, in which 784,000 Americans applied for unemployment benefits.
For the first time, weekly unemployment applications are at an awkwardly high level. At the end of August, the figure fell below 1 million, but since then it has been difficult to make significant improvements ̵
1; and last week was a huge step in the wrong direction.
Along with regular lawsuits, 284,470 workers filed claims for unemployment assistance in a pandemic. The program provides assistance to people as self-employed or workers who are not covered by regular benefits. After the new stimulus deal extends the program, it should now close in March.

Taking into account, the initial claims for compensation amounted to 1.4 million last week, without seasonal adjustments.

The ongoing claims, which number the number of workers who have asked for help for at least two weeks in a row, amount to 5.3 million in the week ending January 2.

This is an evolving story. It will be updated

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