Indiana sees big drop in initial unemployment claims
Claims fell nationally, but the U.S. Labor Department’s report Thursday marked the 20th straight week that at least 1 million people have sought jobless aid.
Claims fell nationally, but the U.S. Labor Department’s report Thursday marked the 20th straight week that at least 1 million people have sought jobless aid.
The U.S. Labor Department’s Thursday report showed that applications for jobless aid fell by about 10,000 nationally from the previous week. The figure has now topped 1 million for 17 straight weeks.
Indiana saw initial unemployment claims plummet from numbers that were suspected of being inflated by fraud the previous week, according to figures released Thursday morning by the U.S. Department of Labor.
In all, the list includes 2,499 Indianapolis entities and 11,853 entities statewide that received Paycheck Protection Program loans of $150,000 or more. The list includes the Indianapolis Business Journal, which received a loan of between $350,000 and $1 million.
U.S. employers added a substantial 4.8 million jobs in June as the job market improved nationally for a second straight month. Indiana, however, saw initial unemployment claims rise for the fourth straight week.
The number of laid-off workers who applied for unemployment benefits declined slightly, to 1.48 million, nationally last week, the 12th straight drop. But claims jumped in Indiana.
Weekly claims had been declining in Indiana during the pandemic until increasing the past two weeks.
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The diminishing pace suggests that the job market meltdown that was triggered by the coronavirus may have bottomed out, as more companies call at least some of their former employees back to work.
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About 41 million people have applied for aid since the virus outbreak intensified in March, but about half of them have gone back to work.
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Roughly 33.5 million people nationwide have now filed for jobless aid in the seven weeks since the coronavirus began forcing millions of companies to close their doors and slash their workforces.
Roughly 30.3 million people have now filed for jobless aid in the six weeks since the coronavirus outbreak began forcing millions of employers to close their doors and slash their workforces.
More than 4.4 million laid-off workers applied for U.S. unemployment benefits last week as job cuts escalated across an economy that remains all but shut down, the government said Thursday.
The Dow Jones industrial average soared 3% on Friday and other market indexes showed solid gains as investors latched onto hope about progress in the fight against the coronavirus and a restart of the economy.
In Indiana, 118,184 claims were made in the week that ended April 11, down from 127,010. The state was typically seeing less than 3,000 claims per week before the outbreak.
In Indiana, 133,639 people filed unemployment claims in the week ended April 4, down from 139,174 the previous week, and way up from 75,522 the week before that.