* AP…
The number of laid-off workers seeking U.S. unemployment benefits rose to 1.1 million last week after two weeks of declines, evidence that many employers are still slashing jobs as the coronavirus bedevils the U.S. economy.
The latest figures, released Thursday by the Labor Department, suggest that more than five months after the viral outbreak erupted the economy is still weak, despite recent gains as some businesses reopen and some sectors like housing and manufacturing have rebounded. Jobless claims had fallen last week below 1 million for the first time since March, to 971,000. A rising number of people who have lost jobs say they consider their loss to be permanent.
The total number of people receiving unemployment aid declined last week from 15.5 million to 14.8 million, the government said Thursday. Those recipients are now receiving far less aid because a $600-a-week federal benefit has expired, which means the unemployed must now get by solely on much smaller aid from their states. The loss of the federal benefit has deepened the struggles for many, including a higher risk of eviction from their homes.
President Donald Trump has signed an executive order to provide $300 a week in federal unemployment aid, with money drawn from a disaster relief fund. Twenty-five states have said they will apply for the federal money, though they would need to revamp their computer systems to do so. Other states are still considering whether to take that step; two have said they won’t.
* Illinois…
The U.S. Department of Labor estimates 21,956 new unemployment claims were filed during the week of August 10 in Illinois, according to the DOL’s weekly claims report released Thursday. […]
The U.S. Department of Labor estimates 22,387 new claims in Illinois new unemployment claims were filed during the week of August 3 in Illinois.
The U.S. Department of Labor estimates 24,712 new unemployment claims were filed during the week of July 27 in Illinois.
The U.S. Department of Labor estimated 32,465 new unemployment claims were filed during the week of July 20 in Illinois.
The Illinois Department of Employment Security reported 36,435 new unemployment claims were filed during the week of July 13 in Illinois.
* Meanwhile…
The Illinois unemployment system may not be doing enough to protect benefits recipients from scammers who hijack their accounts and move money in their own accounts.
Some believe the Illinois Department of Employment Security could have prevented this if they had taken one more simple security step: two factor authentication.
Two factor authentication is a text or email sent to a device you possess to confirm you made a change to an account. The text or email includes a code which is used to confirm the change. It’s often used for social media, credit cards and bank accounts, among other things. […]
“It never gives you the opportunity to put in a numbers where you can get an SMS text,” said scam victim Russel McFeely.
McFeely lost $1,800 when a criminal hacked his IDES account and moved the benefits into another account.
*** UPDATE *** IDES…
The Illinois Department of Employment Security (IDES) announced today that the unemployment rate fell -3.2 percentage points to 11.3 percent, while nonfarm payrolls added +93,200 jobs in July, based on preliminary data provided by the U.S. Bureau of Labor Statistics (BLS) and released by IDES. The June monthly change in payrolls was revised downward from the preliminary report, from +142,800 to +142,300 jobs. The June unemployment rate was revised downward from the preliminary report, from 14.6 percent to 14.5 percent.
The July payroll jobs estimate and unemployment rate reflects activity for the week including the 12th. The BLS has published FAQs for the July payroll jobs and the unemployment rate.
The state’s unemployment rate was +1.1 percentage points higher than the national unemployment rate reported for July, which was 10.2 percent, down -0.9 percentage points from the previous month. The Illinois unemployment rate was up +7.4 percentage points from a year ago when it was 3.9 percent.
In July, the three industry sectors with the largest over-the-month gains in employment were: Leisure and Hospitality (+65,300), Education and Health Services (+14,100) and Professional and Business Services (+8,400). The industry sectors with the largest payroll declines were: Manufacturing (-4,600), Construction (-3,300) and Information (-1,200).
“While we’re happy to see the unemployment rate and payrolls moving in the right direction, IDES remains committed to serving our claimants’ needs during this continued unprecedented time,” said Acting Director Kristin Richards. “As we move through this period of uncertainty, the Department is working as vigilantly as possible to rise to the challenge and provide benefits and employment services to those who need them.”
“While data from July demonstrate continued progress in the face of extraordinarily challenging economic times, it’s clear the pandemic is continuing to have an unprecedented effect on our economy. Evidence from other states has shown that ensuring public health is the quickest way to an economic recovery,” said Michael Negron, Acting Director of the Department of Commerce and Economic Opportunity (DCEO). “With that in mind, DCEO remains committed to investments that will support Illinois businesses and residents facing the most acute effects of this crisis, while making continued progress under Governor Pritzker’s Restore Illinois plan to safely reopen our state economy.”
Compared to a year ago, nonfarm payroll employment decreased by -508,000 jobs, with losses across all major industries. The industry groups with the largest jobs decreases were: Leisure and Hospitality (-164,000), Professional and Business Services (-81,300) and Trade, Transportation, and Utilities (-62,900). Illinois nonfarm payrolls were down -8.3 percent over-the-year as compared to the nation’s -7.5 percent over-the-year decline in July.
The number of unemployed workers fell sharply from the prior month, a -25.2 percent decrease to 705,600 but was up +179.8 percent over the same month for the prior year. The labor force was down -3.9 percent over-the-month and -3.2 percent over-the-year. The unemployment rate identifies those individuals who are out of work and seeking employment. An individual who exhausts or is ineligible for benefits is still reflected in the unemployment rate if they actively seek work. [Emphasis added.]