This week’s MBA Chart of the Week uses data from the U.S. Bureau of Labor Statistics to look at the ratio of the number of unemployed workers to job openings to highlight how the current recession is different than the recession in 2007-2009.
Tag: Unemployment
Unemployment Claims Top 1M for 16th Consecutive Week
The good news: initial claims fell for the 14th consecutive week, the Labor Department said yesterday. The bad news: despite the decrease, initial claims topped one million for the 14th consecutive week and look as if they will continue to do so for several more weeks.
Unemployment Claims Plateau, Remain Elevated
More than 1.5 million Americans filed initial claims for unemployment insurance last week virtually unchanged from the previous week and at historically elevated levels for the 12th consecutive week, the Labor Department reported yesterday.
Americans File 1.54 Million More Initial Claims
More than 1.5 million Americans filed new claims for unemployment insurance during the first week of June, the Labor Department reported Thursday—the lowest level since the start of the coronavirus pandemic but still well above historic norms.
Fed: No Rate Hike Until ‘at Least 2022’
The Federal Open Market Committee yesterday offered cautious hope for an economic turnaround following the body-slam brought on by the coronavirus pandemic. But it soberly noted the economic recovery could take some time.
Zillow: Newly Unemployed Service Workers Owe $1.7 Billion/Month in Housing Payments
Zillow, Seattle, said its analysis found more than $1.7 billion in rent and mortgage payments is owed each month by U.S. service-sector workers currently receiving unemployment benefits as a result of the coronavirus pandemic — payments that could be in jeopardy if expanded local and federal unemployment assistance fades or workers remain without incomes longer than expected.
Americans File 1.9 Million Initial Claims; 11-Week Total at 42.6 Million
The positive news is initial unemployment claims fell for the ninth consecutive week. The not-so-positive: nearly 28 percent of Americans who had jobs in February are now out of work.
A ‘Truly Unprecedented’ Time for Economy, Mortgage Industry
WASHINGTON, D.C.–The current economic situation is ‘unprecedented,’ said MBA Chief Economist Mike Fratantoni during the MBA Live: State of the Industry virtual conference on Tuesday.
Initial Claims Tapering, But Remain High
Nearly three million Americans applied for initial unemployment claims last week—the lowest level in eight weeks but still highly elevated in the wake of the coronavirus pandemic.
MBA Chart of the Week: Payroll Employment Changes
This week’s MBA Chart of the Week focuses on Friday’s grave employment report from the Bureau of Labor Statistics. The COVID-19 crisis has hit employment and household income in an unprecedented and accelerated fashion.