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Heidi Shierholz Jun 25
Things are not really improving. This chart shows continuing claims in all programs (latest data are for June 6). Continuing claims are now very close to their peak on May 9th, and are more than 29 million above where they were a year ago. 4/
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Heidi Shierholz Jun 25
Replying to @hshierholz
The latest figure in “other programs” in the chart above is 1.2 million claims. Most of this (0.9 mil) is Pandemic Emergency Unemp Compensation (PEUC). PEUC is the additional 13 weeks of benefits provided by the CARES Act for people who have exhausted regular state benefits. 5/
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Heidi Shierholz Jun 25
Replying to @hshierholz
PEUC declined somewhat in the latest data, but we can expect the number of people on PEUC to grow *a lot* as the crisis drags on. 6/
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Heidi Shierholz Jun 25
Replying to @hshierholz
“Other programs” in the chart above also includes Short-Time Compensation (STC). STC is a great alternative to layoffs where employers reduce work hours rather than lay off workers, and workers get partial UI. But just 292,077 workers are receiving STC. 7/
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Heidi Shierholz Jun 25
Replying to @hshierholz
The chart above only covers continuing claims through June 6, but we can combine the most recent data on both continuing claims and initial claims to get a measure of the total number of people “on” unemployment benefits as of June 20. See next tweet… 8/
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Heidi Shierholz
Right now, 33.1 million workers are either on unemployment benefits, have been approved and are waiting for benefits, or have applied very recently and are waiting to get approved. That is more than one in five workers. 9/
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Heidi Shierholz Jun 25
Replying to @hshierholz
Note that of the 33.1 million workers “on” unemployment benefits, more than a third are on PUA. This is a sobering reminder of how enormous the gaps are in our regular state unemployment insurance programs and how important it is that Congress established PUA. 10/
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Heidi Shierholz Jun 25
Replying to @hshierholz
One note about UI and PUA claims: they *should* be completely non-overlapping—that is how DOL has directed state agencies to report them—but some states may be misreporting claims, so there may be some double counting. 11/
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Heidi Shierholz Jun 25
Replying to @hshierholz
Today’s data highlight the deep recession we are now in. It’s important to remember that this recession is exacerbating existing racial inequalities by causing greater job loss in black households than white households. 12/
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Heidi Shierholz Jun 25
Replying to @hshierholz
Policymakers must do much more. For example, we need to extend the across-the-board $600 increase in weekly unemployment benefits, which was probably the most effective part of the CARES Act. 13/
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Heidi Shierholz Jun 25
Replying to @hshierholz
Note, some are wrongly saying that the extra $600 in benefits expires July 31. CARES says the $600 applies to weeks “ending on or before July 31,” which is a Friday. Since, in the UI world, weeks typically end on Saturday, the last payment will be for the week ending July 25. 14/
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Heidi Shierholz Jun 25
Replying to @hshierholz
So, the extra $600 expires one month from today. Letting that happen would be a disaster for UI recipients, who would have to drastically cut their spending, and for the macro economy, which is being held afloat by this spending. Letting the $600 expire would hurt all of us. 15/
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Heidi Shierholz Jun 25
Replying to @hshierholz
Federal lawmakers also need to provide massive aid to state and local governments. Without it, 5.3 million workers in the public and private sector will lose their jobs by the end of 2021. 16/
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Heidi Shierholz Jun 25
Replying to @hshierholz
This blog post is this tweet thread with a few more details. 17/
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Michael Donnelly Jun 25
Replying to @hshierholz
18 retweets and 2 likes, so we recognize this as important but we don't like it. Sorry for the ratio
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