787,000 Americans applied last week for initial unemployment claims, a decrease of 19,000 from the previous week and 41,000 fewer unemployment claims than economists had predicted, according to data from the Department of Labor.
Why it matters: This is the lowest weekly figure this month, but the overall level of economic pain experienced during the holiday season in the US remains surprisingly high. More than 19.5 million Americans claim benefits in all unemployment programs to end the year.
Flash back: About 220,000 people applied for initial unemployment claims at this time last year.
Send the news: President Trump signs the $ 900 billion coronavirus relief package approved by Congress. Despite its decision to postpone the bill due to objections at the last minute, the Labor Department said this week that it does not expect people claiming certain federal unemployment benefits to experience a decrease in payments.
- President Trump and Democrats in Congress have urged the Senate to approve an independent bill that would increase the control stimulus from $ 600 to $ 2,000 per person.
- Senate Majority Leader Mitch McConnell acknowledged on Wednesday that he did not see a “realistic way to pass the House-approved measure quickly, and said on the Senate floor:” The Senate is not going to be bullied to chase out more borrowed money in the hands. of the rich friends of the Democrats who do not need the help. ‘