Knowledge exhibits 14,203 Virginians filed preliminary unemployment claims; continued claims decline to 65,091
FILE – On this Feb. 6, 2021 file picture, a lady walks previous a “Now Hiring” signal displayed at a CD One Worth Cleaners in Schaumburg, Unwell. In a stark signal of the financial inequality that has marked the pandemic recession and restoration, People as an entire are actually incomes the identical quantity of wages and salaries that they did earlier than the pandemic struck, even with almost 9 million fewer individuals at work. (AP Picture/Nam Y. Huh, File)
NORFOLK, Va. (WAVY) – Previous Dominion’s Drags Heart stated Virginia’s labor market is bettering as information from the Virginia Employment Fee exhibits that 14,203 Virginians filed an preliminary unemployment declare for the week of Feb. 6, a lower of three,974 from the earlier week.
Statistics present continued state claims declined by 2,246 to 65,091.
For the fifth consecutive week, preliminary claims within the commonwealth are down from the earlier week, ODU stated.
“Within the final 4 weeks, preliminary claims have declined 50%., continued claims declined within the newest week after 5 straight weeks of will increase. The greater than 14,000 preliminary claims filed final week are higher than the entire preliminary claims filed in February 2019 whereas preliminary claims filed in January 2021 stay larger than the worst month of the Nice Recession,” stated Dominique Johnson, analysis affiliate on the Dragas Heart.
For the week ending Feb. 6, information confirmed roughly 1.1 million People filed an preliminary unemployment declare both by way of an everyday state program or the Pandemic Unemployment Help (PUA) program.
Analysis additionally confirmed roughly 20.4 million People obtained some type of unemployment help for the week of Jan. 23, a rise of two.6 million from the earlier week and roughly 18.3 million greater than the identical week in 2019.
“Whereas preliminary claims for unemployment declined barely final week, the extent of claims stays effectively above earlier historic weeks. We’ve now had 47 consecutive weeks of preliminary claims that exceeded the earlier excessive noticed through the Nice Recession of 2007 to 2009,” stated Robert McNab, director of the Dragas Heart.
ODU says the rise in continued claims throughout all applications is troubling. Greater than 20 million People obtained some type of unemployment insurance coverage within the newest obtainable week.
Whereas common continued state claims declined, these declines had been greater than offset by will increase in PUA and PEUC claims stated the financial workforce.
The Dragas Heart stated we have to stay up for the expiration of emergency applications within the spring to see if People will face the prospect of one other lapse in unemployment advantages.
As vaccinations improve throughout the county and infections fall, ODU expects speedy positive factors in labor markets over the second half of 2021.
