BELOW SUPERNAV drop zone ⇩

US jobless claims decline to 779,000 as lawmakers push for more COVID-19 relief

FILE – In this Dec. 18, 2020, file photo, a person passes the office of the California Employment Development Department in Sacramento, Calif. On Tuesday, Jan. 26, 2021, California State Auditor Elaine Howle released a report saying that the EDD might have overpaid millions of people since March 2020 after it stopped enforcing eligibility rules so they could process claims faster. (AP Photo/Rich Pedroncelli, File)

MAIN AREA TOP drop zone ⇩

MAIN AREA TOP drop zone ⇩

Mortgage Calculator

This calculator helps you estimate your monthly mortgage payment. It adds up the loan payment (principal + interest), property tax, and insurance. The loan payment is spread out over the years of your loan term.

This is the total amount you're borrowing from the bank.
This is the yearly interest rate on your loan.
This is how long you'll take to repay the loan.
This is the yearly tax you pay on your property.
This is the yearly cost to insure your home.

Monthly Payment Breakdown

Principal and Interest: $

Property Tax: $

Homeowners Insurance: $

Total Estimated Monthly Payment: $

CHICAGO (NewsNation Now) — The number of Americans filing new unemployment claims last week declined to 779,000, a still-historically high total amid a struggle to secure bipartisan agreement over the next round of coronavirus relief.

The U.S. Department of Labor reported Thursday that last week’s jobless claims total fell by 33,000 from the week prior. It’s the lowest in two months.

Before the virus erupted in the United States in March, weekly applications for jobless aid had never topped 700,000, even during the Great Recession.

“Approaching the one-year mark of the pandemic, it is quite striking that new claims remain so elevated,” said Mark Hamrick, senior economic analyst for Bankrate. “It is not only the depth but also the duration of the downturn taking a toll.”

Meanwhile, the number of Americans receiving traditional unemployment benefits also decreased in the week ending Jan. 23, the latest period for which figures are available. Nearly 4.6 million people received unemployment benefits that week, a drop of roughly 193,000 from the week prior.

Thursday’s report reflects a U.S. job market that is still suffering from the pandemic, with hiring having weakened for six straight months. It is a key reason why President Joe Biden is pushing Congress to enact a $1.9 trillion economic rescue program, on top of a $900 billion federal aid package that was approved late last year.

Hamrick said a recent Bankrate survey found that more than half, roughly 53%, of those who received or expected to get the latest round of $600 stimulus checks “thought the money would sustain their financial well-being for less than a month.”

“This underscores why there’s a widespread belief that further fiscal assistance, being considered by Congress, is needed from the federal government. Aid of some form appears increasingly likely,” he said.

The Associated Press contributed to this report.

Your Money

Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed

Site Settings Survey

 

MAIN AREA MIDDLE drop zone ⇩

Trending on NewsNation

MAIN AREA BOTTOM drop zone ⇩

tt

KC Chiefs parade shooting: 1 dead, 21 shot including 9 kids | Morning in America

Witness of Chiefs parade shooting describes suspect | Banfield

Kansas City Chiefs parade shooting: Mom of 2 dead, over 20 shot | Banfield

WWE star Ashley Massaro 'threatened' by board to keep quiet about alleged rape: Friend | Banfield

Friend of WWE star: Ashley Massaro 'spent hours' sobbing after alleged rape | Banfield

Sunny

la

66°F Sunny Feels like 66°
Wind
7 mph SW
Humidity
47%
Sunrise
Sunset

Tonight

Partly cloudy. Low near 50F. Winds NNW at 5 to 10 mph.
50°F Partly cloudy. Low near 50F. Winds NNW at 5 to 10 mph.
Wind
6 mph NNW
Precip
10%
Sunset
Moon Phase
Waxing Gibbous