US Jobless Count Crossed over 1 Million- Reports

US Jobless Count Crossed over 1 Million- Reports

More than expectation, there are people who are filling for the benefits of unemployment in the last week. This has raised the concern about the economic state as the lawmakers are struggling for moving forward towards a new stimulus package for a pandemic.

On Thursday, by the Labor Department, it was said that initial jobless claims with the week ending 15 Aug were around 1.106 million. It was expected by economists that total would be 923,000 while the previous week’s initial claims are higher as 971,000 to 8,000.  Last week in 21 weeks for the first time, claims made initially are below 1 million. 

Image Credits- The New York Time

An extra benefit of unemployment wanted to be kept by a Democratic lawmaker of around $600 per week, which was previously included as an aid package. In this week earlier, above 100 house democrats have urged the Nancy Pelosi, D-Calif., House Speaker for passing a small bill that makes these extra benefits reinstated. It was indicated that republicans would like to extend these additional benefits at a lesser rate.

Some of the states have approved for benefits of $300 per week, but it is not clear how soon these benefits will be given to the unemployed Americans. Those Americans who had received unemployment benefit for a minimum of 2 weeks continuously had reduced to 636,000 from 14.844 million

Kansas, Puerto Rico, and Nevada had seen the biggest initial claims at state and territory level, which increases with the August, 8-week end. As per the Labor Department report, the claims of jobless has been increased by 4,028 for Nevada Rose, 3,601 by Puerto Rico rose, while 2,248 by Kansas.

Written by Neha Garg