Colorados Unemployment Numbers Will Be Even Worse This Week
Preliminary figures show 45,000 people filed initial unemployment applications in the first three days of this week in Colorado, a figure that has already doubled last weeks record-breaking numbers.
The rush of new claims comes as more businesses close and as the state improves its unemployment computer systems, allowing more people to complete their applications.
Meanwhile, newly released federal data showed that 19,745 people filed for unemployment in Colorado last week.
The avalanche of unemployment claims has shattered previous records. In Colorado, the worst week of the Great Recession saw about 8,000 claims. Of course, the 2008 crisis eliminated many more jobs in total, but the U.S. has never seen so many layoffs concentrated in such a short time.
Nationwide, the U.S. Department of Labor counted about 3.3 million new claims, compared to a previous record of about 700,000 in 1982.
This weeks numbers came as Gov. Jared Polis statewide remain-at-home order is likely to close more businesses or limit their hours. Additionally, high demand has threatened to overwhelm the states unemployment services, resulting in glitches that blocked many people from filing a claim last week.
Turner finally succeeded on Tuesday, when his application went through perfectly. Several other people told CPR that they were able to get their applications through this week, too. Polis said earlier that the state was working to expand the sites capacity.
Unemployment Rises In 2020 As The Country Battles The Covid
Total civilian employment fell by 8.8 million over the year, as the COVID-19 pandemic brought the economic expansion to a sudden halt, taking a tremendous toll on the U.S. labor market. The unemployment rate increased in 2020, surging to 13.0 percent in the second quarter of the year before easing to 6.7 percent in the fourth quarter. Although some people were able to work at home, the numbers of unemployed on temporary layoff, those working part time for economic reasons, and those unemployed for 27 or more weeks increased sharply over the year.
A decade-long economic expansion ended early in 2020, as the coronavirus disease 2019 pandemic and efforts to contain it led businesses to suspend operations or close, resulting in a record number of temporary layoffs. The pandemic also prevented many people from looking for work. For the first 2 months of 2020, the economic expansion continued, reaching 128 months, or 42 quarters. This was the longest economic expansion on record before millions of jobs were lost because of the pandemic.1
Total civilian employment, as measured by the Current Population Survey , fell by 21.0 million from the fourth quarter of 2019 to the second quarter of 2020, while the unemployment rate more than tripled, from 3.6 percent to 13.0 percent. This was the highest quarterly average unemployment rate in the history of the CPS.2
The CPS and the CES
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Racial Disparities In Unemployment Rates Persist Despite Claims Of A Labor Shortage
EPI analyzes state unemployment rates by race and ethnicity, and racial/ethnic unemployment rate gaps, on a quarterly basis to generate a sample size large enough to create reliable estimates of unemployment rates by race and ethnicity at the state level. We report estimates only for states for which the sample size of these subgroups is large enough to create an accurate estimate. For this reason, the number of states included in our maps and data tables varies based on the analysis performed. The following analysis contains data on the third quarter of 2021.
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Are There Signs Of The Job Market Getting Better
The ONS said that the latest figures show “early signs” of a recovery in the jobs market.
There was a rise in the number of vacancies, to the highest level since the pandemic began.
Some businesses, like restaurants and bars, now say they are struggling to find the workers they need to reopen.
The number of people being made redundant has also been falling, though it is still higher than it was before the pandemic began.
Europes Economy Was Hit Hard Too But Jobs Didnt Disappear Like In The Us
As more and more workers lose jobs, many states say they are seeing the trust funds used to pay unemployment benefits begin to run low.
Nearly half the states say they have seen double-digit decline in their funds, The Wall Street Journal reported this week.
New York, which has burned through half of its fund, has asked for a $4 billion no-interest loan from the federal government to cover unemployment benefits. More than a million people in the state have lost their jobs.
Massachusetts says its fund is also down by half since mid-February, and California has seen a 40% decline.
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Causes And Types Of Unemployment
While specific occurrences of unemployment will, of course, have a multitude of causes, some progress can be made with classifying the general phenomenon according to cause and possible remedy. Spikes in unemployment can be cyclical and are the result of a general decline in production and economic activity . They can be remedied by measures to stimulate the economy to a higher level of performance, although such policies must clearly be influenced by other attendant circumstances .
Californias Labor Market By The Numbers
- Californiaâs month-over unemployment rate increased from 8.1 percent in November to 9.0 in December2 marking the stateâs first month-over rate increase since April 2020.
- Despite the decline, six of Californiaâs 11 industry sectors saw job gains last month. Construction had the stateâs largest month-over increase thanks to strong gains in Specialty Trade Contractors and Construction of Buildings.
- Professional and Business Services had the stateâs second-largest month-over increase due to large gains in Accounting, Tax Preparation, and Bookkeeping, as well as Management, Scientific, and Technical Consulting.
- Leisure and Hospitality suffered the largest month-over loss largely due to severe losses in Accommodation and Food Services, which accounted for 83.2 percent of the industry sectorâs overall loss.
1. The nonfarm payroll job numbers come from a federal survey of 80,000 California businesses. 2. The unemployment rate comes from a separate federal survey of 5,100 California households.
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History Of Unemployment In Canada
Unemployment has risen on average since the mid-1960s, both in absolute numbers and as a percentage of the labour force . Annual average unemployment rates of 3 to 5 per cent were common before 1958 and from 1964 to 1969. From 1958 to 1963 and in the early 1970s, 5 to 7 per cent rates prevailed.
Over most of the post-1975 period, employment also grew, but the labour force grew even more rapidly so that the number and fraction that were unemployed rose. During the recession of the early 1980s , the unemployment rate jumped. In August 1981, employment declined, as did labour-force participation and the fraction of the working-age population that was employed . The unemployment rate rose steadily over the period to December 1982, reaching 13.1 per cent. This is thought to be the highest rate of unemployment since the Great Depression, when the unemployment rate peaked at 19.3 per cent. The unemployment rate was gradually reduced to about 7 per cent in the late 1980s, but rose sharply again during the recession of the early 1990s, peaking at 12.1 per cent in November 1992.
After the recession of the early 1990s , employment recovered slowly, and, as a result, a drop in the unemployment rate was delayed until 1994. Strong employment growth from 1997 to 2000 brought the unemployment rate down to 6.8 per cent in January 1999. Unemployment spiked again briefly in the early 2000s, before resuming its decline in September 2003.
South Dakota Nonfarm Wage & Salaried Workers By Industry
This data is not seasonally adjusted.
Based on a monthly survey of South Dakota establishments, preliminary estimates show the total nonfarm wage and salaried worker level decreased by 2,200 from October 2021 to November 2021. Over the last 10 years, worker levels have had an average loss of 1,500 workers from October to November.
Leisure and Hospitality had the largest over-the-month decline with a loss of 1,400 workers . Leisure and Hospitality worker levels declined 900 in the Rapid City Metropolitan Statistical Area and fell 200 in the Sioux Falls MSA. This type of decline is consistent with historical trends as many seasonal establishments reduce staff to match a decline in visitors as the weather turns colder.
Education and Health Services decreased 900 workers , dropping to 73,500 workers in November 2021. Health Care and Social Assistance accounted for this loss, dropping 1,000 workers over the month. Declines are spread throughout many of the establishments in Health Care and Social Assistance. Establishments in Health Care and Social Assistance include dentist offices, chiropractors, childcare centers, assisted living facilities and vocational rehabilitation agencies. Hospitals remained unchanged over the month with 27,200 workers. Educational Services gained 100 workers . This number includes private educational services public educational services are included in government worker levels.
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Difficulty Covering Usual Household Expenses
The Pulse Survey asks adult respondents if their household had difficulty paying for usual expenses such as food, rent or mortgage, car payments, medical expenses, or student loans in the last seven days. Table 3 shows the estimated number and percent of adults reporting that it was somewhat or very difficult for their household to pay for their usual expenses in the last seven days.
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Child Tax Credit
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– How many stimulus checks were approved during the last 12 months?
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What Causes Structural Unemployment
Structural unemployment is caused by external processes or events that trigger fundamental changes in the economy, including:
1. Technological changes
Technological advancements can significantly affect an economy. The introduction of new technologies can cause some of the existing jobs to become obsolete, leaving many people unemployed.
Also, new technologies can substantially increase productivity, allowing companies to reduce their labor force without harming their overall output. In such a scenario, many workers face the loss of their jobs, and structural unemployment will arise.
Competition is another factor that can lead to structural unemployment in an economy. For example, globalizationGlobalizationGlobalization is the unification and interaction of the world’s individuals, governments, companies, and countries. It has been accomplished through the is one of the driving forces behind increased competition around the world. Developing countries generally provide cheap labor many companies from developed countries relocate their manufacturing facilities to developing nations. As a result, workers who were previously involved in manufacturing become unemployed.
Although the geographic immobility of a population is not a direct cause of structural unemployment, it can severely worsen its effects. For example, if a population in a high unemployment region is not willing to relocate to where jobs are abundant, high unemployment will continue.
What’s Next For The Unemployed
At this point, some jobless people may need to find work out of desperation, even if it means having to scramble for childcare or put their health at risk. And that’s downright unfortunate. But at this point, it doesn’t look like lawmakers will reinstate unemployment benefits for those who have recently seen it run out.
Similarly, it doesn’t look like a fourth stimulus check is in the cards for 2022. While the number of new jobless claims has risen in recent weeks, the economy is still in a much better place now than it was back when the American Rescue Plan was signed into law. And so those who are banking on another stimulus round may be in for a big disappointment.
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Local Area Unemployment Statistics
The statistics in this section are gathered from the LAUS Program. This program provides estimates of labor force and the unemployment rate, by place of residence.For more information read our LAUS Program Information Sheet and go to the Bureau of Labor Statistics’ website.
County Unemployment Rate
*To access historical data, scroll down to the bottom of the table and click , specify Date Range “From, To” then choose whether you want to Preview/Print or download in a specific format .*
With The Two Main Federal Pandemic Unemployment Programs Ending On 6 September More Than Millions Of Workers And Families Find Themselves Without An Income
A year ago, as the United States was in the throws of confronting the second wave of covid-19 infections, more than 29 million people were claiming unemployment benefits. Last week, the Department of Labor announced that this level had fallen to 12.1 million
Regular continued claims, also referred to as insured unemployment, was 2.6 million the week ending August 21. Adding all Unemployment Insurance programsincluding #PUA, #PEUC, and #ExtendedBenefitsa total of 12.2 million workers claimed benefits the week ending August 14. 3/4
When the pandemic took hold in the United States back in March 2020, Congress quickly passed the CARES Act, which made significant changes to unemployment insurance. Through two main programs, the federal government was able to extend the number of weeks those unemployed could claim benefits and increased the value of their benefits.
The tens of millions who lost their jobs benefited from these new programs:
- Pandemic Unemployment Assistance , which provides unemployment benefits to individuals who are self-employed, seeking part-time employment, or who otherwise would not qualify for regular unemployment compensation.
- Pandemic Emergency Unemployment Compensation , allowed those eligible to receive unemployment compensation, additional coverage as many states have a cap on the number of weeks claims can be made. This program also provides a $300 topper sent by the federal government in addition to state benefits.
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The Unemployment Figures In Detail
The total number of unemployed is 6.9 million, down 542,000 from October. The number of long-term unemployed dropped to 2.19 million. A smaller number, 1.9 million, lost jobs within the last five weeks. This number declined from October’s 2.1 million.
The real unemployment rate was 7.8% in November, 0.5 percentage points lower than in October. This alternate measure of unemployment, known as U-6, gives a broader definition of unemployment. It includes people who would like a job but haven’t looked for one in the past month. It also includes those who are underemployed and marginally attached.
The real unemployment rate includes 450,000 discouraged workers, down from 455,000 in October and down from 657,000 back in Nov. 2020. Discouraged workers are people who have given up looking for work but would take a job if offered. They are not counted in the unemployment rate because they haven’t looked for a job in the past four weeks.
The labor force participation rate in November was 61.8%, up 0.2 percentage points from October. The labor force doesn’t include those who haven’t looked for a job in the past month. Some would like a job, but others dropped out of the labor force for different reasons. They may have retired, gone back to school, or had a baby.
Tax Refunds On Unemployment Benefits Still Delayed For Thousands
- The American Rescue Plan Act waived federal tax on up to $10,200 of 2020 unemployment benefits per person. President Joe Biden signed the pandemic relief law in March.
- The IRS has identified 16 million people to date who may qualify for an associated tax refund or other benefit. The agency had sent more than 11.7 million refunds worth $14.4 billion as of Nov. 1.
- The IRS plans to send another tranche by the end of the year.
Thousands of taxpayers may still be waiting for a tax refund on unemployment benefits collected during the Covid pandemic, as the IRS grapples with a backlog of tax returns.
The American Rescue Plan Act, a pandemic relief law, waived federal tax on up to $10,200 of unemployment benefits a person collected in 2020, a year in which the unemployment rate climbed higher than any time since the Great Depression.
However, many people eligible for the tax break had filed their annual tax returns before President Joe Biden signed the legislation on March 11.
That means they overpaid their federal tax bill and may qualify for a refund.
To date, the IRS has identified more than 16 million total people who may qualify for the tax break. The agency has sent over 11.7 million refunds worth $14.4 billion, according to the most recent data.
Payments started in May the IRS had indicated they’d continue into the summer and fall. It’s unclear how many people are still waiting, though.
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The United States Has Not Had Reliable Data During The Pandemic To Answer A Very Basic Question: How Many Americans Are Out Of Work
The United States currently has a lot of people out of work even more than during the worst point of the Great Recession. But exactly how many people are unemployed right now is a surprisingly tricky question to answer. And some economists think the official count is far too low.
The official number of unemployed Americans is 10.1 million, according to the Labor Department. That statistic comes from the monthly jobs report that the Labor Department puts out the first Friday of each month, which shows the official unemployment rate at the moment is 6.3 percent.
But theres another government data source that indicates a much higher number of unemployed. Every Thursday, the Labor Department reports how many people are receiving jobless aid from the government. The latest data indicates 18.3 million people were receiving weekly unemployment payments through Jan. 30. That figure fluctuates a bit week to week, but it has hovered closeto 20 million for the past few months. Top White House officials often cite this number when they talk about the economic pain the country is still facing and make the case for another round of aid, including more stimulus payments to individuals.