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The Week Ahead: Update on Jobless Claims

On Thursday, August 13, the U. S. Department of Labor will release its weekly update on Unemployment Insurance Weekly Claims. Last week's report noted that, for the week ending August 1, the advance figure for seasonally adjusted initial claims was 1,186,000. This total was down by nearly 250,000 from the previous week's revised level.

The DOL reported that the advance seasonally adjusted insured unemployment rate was 11.0% for the week ending July 25. This represented a decrease of 0.6 percentage points from the previous week's unrevised rate.

The nation's economy continues to struggle with the economic fallout from the ongoing COVID-19 pandemic, with jobless claims having spiked into the millions over the summer.

Here's what else is happening in The Week Ahead.

About Author: David Wharton

David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years' experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at David.Wharton@theMReport.com.

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