Initial claims for jobless benefits totaled 444,000 last week resulting in a new pandemic low.

 

 

The economy is rebounding as we step out of the pandemic and into recovery.  For the same period, a year ago, claims totaled more than 2.3 million, reports CNBC.

 

In the week ending May 15, the advance figure for seasonally adjusted initial claims was 444,000, a decrease of 34,000 from the previous week’s revised level. This is the lowest level for initial claims since March 14, 2020 when it was 256,000.

The previous week’s level was revised up by 5,000 from 473,000 to 478,000. The 4-week moving average was 504,750, a decrease of 30,500 from the previous week’s revised average. This is the lowest level for this average since March 14, 2020 when it was 225,500. The previous week’s average was revised up by 1,250 from 534,000 to 535,250.

The advance seasonally adjusted insured unemployment rate was 2.7 percent for the week ending May 8, an increase of 0.1 percentage point from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending May 8 was 3,751,000, an increase of 111,000 from the previous week’s revised level.

The previous week’s level was revised down by 15,000 from 3,655,000 to 3,640,000. The 4-week moving average was 3,681,000, an increase of 24,750 from the previous week’s revised average. The previous week’s average was revised down by 8,750 from 3,665,000 to 3,656,250.

Source: DOL.gov

 

If you have lost your job and health insurance, President Joe Biden installed the American Rescue Plan for workers. There is help for all Americans to help maintain health coverage.

1) Starting April 1, eligible workers and family members do not have to pay COBRA premiums through the end of September. If you lost your job or your hours were reduced, you may be eligible for this assistance.

2) You may be able to elect COBRA coverage and take advantage of the premium assistance under the American Rescue Plan even if you didn’t sign up for COBRA coverage when it was first offered, or if you had COBRA coverage and then dropped it. Your health plan must provide you with notice of your rights to the premium subsidy and the new election opportunity.

3) You may have other affordable health coverage options. The American Rescue Plan increased eligibility for tax credits that may lower or eliminate your premium for Health Insurance Marketplace coverage. Visit HealthCare.gov to learn more.

Ensure you have the health coverage you need right now by taking advantage of these benefits under the American Rescue Plan.


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