Unemployment

From Record High Markets and Record Low Unemployment Under Trump to Record High Inflation Under Biden in a Matter of Months

From Record High Markets and Record Low Unemployment Under Trump to Record High Inflation Under Biden in a Matter of Months Tap here to add The Western Journal to your home screen.

Just 235K Jobs Added to US Economy When Experts Predicted 725K — Black Unemployment Rate Surges

Huge Jobs Report Miss: Just 235K Jobs Added to US Economy When Experts Predicted 725K — Black Unemployment Rate Surges Tap here to add The Western Journal to your home screen.

Weekly Initial Claims for Unemployment Benefits Jump to an Eleven-Week High

By Robert Hughes Initial claims for regular state unemployment insurance totaled 853,000 for the week ending December 5, up 137,000 from the previous week’s revised tally of 716,000 (see first chart). Claims are now at an eleven-week high, the highest level since September 19. The four-week average was 766,000, up 35,500 from the prior average…

“It’s Outrageous”: Bank Of America Flags $2 Billion In Potential Unemployment Fraud Spanning 640,000 Accounts

In September, we noted how California saw a staggering 72% decline in Pandemic Unemployment Assistance (PUA) applications after the state started cracking down on suspected scammers. Yet despite the state’s efforts, Bank of America on Monday estimated that fraud in California’s unemployment benefits system could total $2 billion across 640,000 accounts which have exhibited suspicious…

November Payrolls Huge Miss At Just 245K Jobs Added, Unemployment Rate 6.7%

As noted earlier in our preview, consensus expected a return to weakness in the labor market as surging Covid-19 case counts have led to to a return of lockdown measures, which explicitly means less hiring and sure enough moments ago the BLS reported that in November, a paltry 245K jobs were added, a huge miss…

Thousands of Inmates Scammed Unemployment Fund For Millions

By Mark Horowitz Tens of thousands of inmates in the state of California, even serial killers, and high-profile murderers like Scott Peterson, were able to defraud the government of roughly a billion dollars through pandemic unemployment benefits. In court on Tuesday, prosecutors said that this was possibly the largest fraud scheme in California history. “The…

14 Million People Will Lose Their Unemployment Benefits, 30 Million At Risk Of Eviction On January 1

By Tyler Durden While markets remain on edge over the sudden tension between the Treasury and the Fed, following Mnuchin’s surprise notice to Powell that the Treasury would let 8 of the key 13(3) “emergency” programs currently in place (including the critical for the bond market Corporate Credit facilities, PMCCF and SMCCF) at the Fed…