Capitol Fax.com - Your Illinois News Radar » *** UPDATED x1 *** Another 3 million Americans, 73,000 Illinoisans apply for unemployment insurance
SUBSCRIBE to Capitol Fax      Advertise Here      Mobile Version     Exclusive Subscriber Content     Updated Posts    Contact
CapitolFax.com
To subscribe to Capitol Fax, click here.
*** UPDATED x1 *** Another 3 million Americans, 73,000 Illinoisans apply for unemployment insurance

Thursday, May 14, 2020

* AP

Nearly 3 million laid-off workers applied for U.S. unemployment benefits last week as the viral outbreak led more companies to slash jobs, even though most states have begun to let some businesses reopen under certain restrictions.

Roughly 36 million people have now filed for jobless aid in the two months since the coronavirus first forced millions of businesses to close their doors and shrink their workforces, the Labor Department said Thursday.

Still, the number of first-time applications has now declined for six straight weeks, suggesting that a dwindling number of companies are reducing their payrolls.

By historical standards, though, the latest tally shows that the number of weekly jobless claims remains enormous, reflecting an economy that is sinking into a severe downturn. Last week’s pace of new applications for aid is still four times the record high that prevailed before the coronavirus struck hard in March.

* The Illinois numbers

Add nearly 73,000 people to the more than 1 million Illinoisans who have filed for unemployment amid the COVID-19 crisis.

The U.S. Department of Labor reports of the 2.9 million people who filed across the country last week, there were 72,993 claims filed in Illinois.

That’s slightly down from the 74,476 who filed last week, but this week’s numbers will go up because 1099 workers were able to file claims starting Monday.

* Meanwhile

Federal Reserve Chair Jerome Powell warned Wednesday of the threat of a prolonged recession resulting from the viral outbreak and urged Congress and the White House to act further to prevent long-lasting economic damage.

The Fed and Congress have taken far-reaching steps to try to counter what is likely to be a severe downturn resulting from the widespread shutdown of the U.S. economy. But Powell cautioned that widespread bankruptcies among small businesses and extended unemployment for many people remain a serious risk.

“We ought to do what we can to avoid these outcomes,” Powell said.

Additional rescue aid from government spending or tax policies, though costly, would be “worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery,” he said.

*** UPDATE *** Press release…

The Illinois Department of Employment Security (IDES) today released new statewide data showing the department processed 72,671 new initial claims for regular unemployment benefits during the week ending May 9. The department has now processed 1,076,461 claims for regular unemployment benefits from March 1 through May 9. This amount is nearly 11.5 times the number of claims the department processed over the same period last year, when IDES processed just 87,000 claims for regular unemployment benefits.

IDES has processed 33,729 Pandemic Emergency Unemployment Compensation claims (PEUC), which provides up to 13 weeks’ worth of 100% federally funded benefits to individuals who have exhausted their regular state unemployment benefits. PEUC is potentially available for weeks beginning on or after March 29, 2020 and continuing through the week ending December 26, 2020.

While the number of initial claims for regular benefits has plateaued in the last two weeks, IDES will experience an increase in overall claims processed when the federal Pandemic Unemployment Assistance (PUA) claims data becomes available Thursday, May 21, 2020. Launched on May 11, more than 50,000 PUA claims have been filed through the new portal in the first three days of operation. IDES expects the number of claimants accessing the new unemployment system to continue to grow in the coming days and weeks.

Statewide unemployment claims data, which reflects activity for the week prior, is made available on the IDES website every Thursday afternoon. PUA claims data will follow these same federal embargo provisions, with this week’s data available on Thursday, May 21. Previous initial claims data has undergone a revision to properly account for the number of successfully processed claims.

- Posted by Rich Miller        

7 Comments
  1. - Mama - Thursday, May 14, 20 @ 12:45 pm:

    It is a good thing The Speaker of the US House wants to help the states with their huge unemployment claims.


  2. - M - Thursday, May 14, 20 @ 12:48 pm:

    Tax-cuts only helps a small percentage of the population - - it does nothing for the unemployed.


  3. - Retired Educator - Thursday, May 14, 20 @ 1:02 pm:

    It is past time for another stimulus check. People are suffering, unemployment benefits are delayed by antique equipment, and the bills just keep coming. America needs help, and congress is dragging their feet.


  4. - OpentoDiscussion - Thursday, May 14, 20 @ 1:24 pm:

    This is not sustainable. Eventually the U.S. Treasury will be bled to death and the national debt will kill the future.

    Yes, we need unemployment benefits. But businesses, both small and large, will be crippled. Some to the point of elimination.

    Obviously we need a vaccine and that should be the highest priority. Other than that I have no real answers and despite all the national coverage it does not appear that anyone else does either.


  5. - Fly like an eagle - Thursday, May 14, 20 @ 2:10 pm:

    - -This is not sustainable. Eventually the U.S. Treasury will be bled to death and the national debt will kill the future.- -
    The US can print more money. The US should print more money. The fed is talking about negative interest rates. A little more inflation might be just what we need.


  6. - Demoralized - Thursday, May 14, 20 @ 2:26 pm:

    ==the national debt will kill the future==

    Now is exactly the wrong time to worry about the national debt. The. Wrong. Time.


  7. - Oswego Willy - Thursday, May 14, 20 @ 2:29 pm:

    ===the national debt will kill the future===

    The Trump Tax cuts, amirite?


Sorry, comments for this post are now closed.


* Davis won't say how he voted on Liz Cheney, but said "I don't disagree with anything she said," encourages people to get vaccinated
* Bar's unusual First Amendment lawsuit against state and local mitigations dismissed after it failed to file response
* Question of the day
* Expanding Renewable Energy Will Save Illinois Consumers Billions And Create Tens Of Thousands of Jobs
* *** UPDATED x1 *** More sunlight needed in LaSalle Veterans' Home inquiry
* Pick a lane
* It's just a bill
* *** UPDATED x1 *** 1,795 new confirmed and probable cases; 26 additional deaths; 1,899 hospitalized; 466 in ICU; 2.7 percent average case positivity rate; 3.3 percent average test positivity rate; 80,591 average daily doses
* Rate the new Illinois tourism ad "Time for me to drive"
* Gun pipeline shut down by feds
* Time Is Running Out To Hold Utilities Accountable
* Governor Pritzker Said On The Campaign Trail: “I’m In Favor Of Fair Maps.”
* COVID-19 roundup
* Challenge to mandatory life sentence for teens reaches Illinois Supreme Court
* White protégé Burnett says he won't run for SoS
* *** UPDATED x3 *** Treasury Department won't let states and locals use ARP money to pay off debt
* Open thread
* SUBSCRIBERS ONLY - Today's edition of Capitol Fax (use all CAPS in password)
* *** LIVE COVERAGE ***
* Yesterday's stories

Support CapitolFax.com
Visit our advertisers...

...............

...............

...............

...............

...............

...............

...............

...............

...............


Loading


Main Menu
Home
Illinois
YouTube
Pundit rankings
Obama
Subscriber Content
Durbin
Burris
Blagojevich Trial
Advertising
Updated Posts
Polls

Archives
May 2021
April 2021
March 2021
February 2021
January 2021
December 2020
November 2020
October 2020
September 2020
August 2020
July 2020
June 2020
May 2020
April 2020
March 2020
February 2020
January 2020
December 2019
November 2019
October 2019
September 2019
August 2019
July 2019
June 2019
May 2019
April 2019
March 2019
February 2019
January 2019
December 2018
November 2018
October 2018
September 2018
August 2018
July 2018
June 2018
May 2018
April 2018
March 2018
February 2018
January 2018
December 2017
November 2017
October 2017
September 2017
August 2017
July 2017
June 2017
May 2017
April 2017
March 2017
February 2017
January 2017
December 2016
November 2016
October 2016
September 2016
August 2016
July 2016
June 2016
May 2016
April 2016
March 2016
February 2016
January 2016
December 2015
November 2015
October 2015
September 2015
August 2015
July 2015
June 2015
May 2015
April 2015
March 2015
February 2015
January 2015
December 2014
November 2014
October 2014
September 2014
August 2014
July 2014
June 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013
May 2013
April 2013
March 2013
February 2013
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
August 2006
July 2006
June 2006
May 2006
April 2006
March 2006
February 2006
January 2006
December 2005
April 2005
March 2005
February 2005
January 2005
December 2004
November 2004
October 2004

Blog*Spot Archives
November 2005
October 2005
September 2005
August 2005
July 2005
June 2005
May 2005

Syndication

RSS Feed 2.0
Comments RSS 2.0




Hosted by MCS SUBSCRIBE to Capitol Fax Advertise Here Mobile Version Contact Rich Miller