Another 847,000 Workers Filed For Unemployment Last Week

 The Labor Department released its weekly statistics last Thursday. It showed that an additional 847,000 workers filed for unemployment benefits in the week ending on January 23rd. The Trump/Coronavirus recession continues.

Fortunately, we now have a new president. Hopefully, President Biden can get a handle on the pandemic and begin to control it. The economy won't recover until that happens.

Here is the official Labor Department statement:

In the week ending January 23, the advance figure for seasonally adjusted initial claims was 847,000, a decrease of 67,000 from the previous week's revised level. The previous week's level was revised up by 14,000 from 900,000 to 914,000. The 4-week moving average was 868,000, an increase of 16,250 from the previous week's revised average. The previous week's average was revised up by 3,750 from 848,000 to 851,750.