Unemployment Claims Soar

Last week’s unemployment insurance claims report ought to set off alarm bells across the country, says Congressman Steny Hoyer.

In the week ending December 5, the advance figure for seasonally adjusted initial claims was 853,000, an increase of 137,000 from the previous week’s revised level. The previous week’s level was revised up by 4,000 from 712,000 to 716,000. The four-week moving average was 776,000, an increase of 35,500 from the previous week’s revised average.

The previous week’s average was revised up as well, by 1,000 from 739,500 to 740,500.

“Those who were already doing well before the pandemic are on track to do well again; those who were struggling are now facing steep job losses and the prospect of emergency aid running out. As many as 12 million Americans will lose their unemployment assistance on the day after Christmas if Congress does not take immediate action. At the same time, this pandemic is breaking records across the country for new case and new deaths,” said Congressman Hoyer.

The November jobs report suggested these unemployment figures reveal a recovery that is stalled. “The pace of job increases leaves us far short of where we were before this crisis began. The number of people leaving the workforce entirely is only going up, while those who have already left it but who want a job increased by nearly half a million,” he said.

“While our financial markets continue to climb and enrich those already wealthy and secure, millions of Americans wake up each day and wonder how they will avoid going hungry, pay their rent or mortgage, or survive the month ahead without a paycheck.  Moreover, Americans are just a few weeks away from facing even steeper hardships as the moratorium on evictions and mortgage forbearance expires, along with forbearance for student loan borrowers, paid sick leave and family leave for workers impacted by COVID-19, and expanded eligibility for unemployment assistance. Without the expanded unemployment assistance, another twelve million Americans will be tossed into deep waters without a lifeline.

“Since the initial bipartisan actions taken at the beginning of this pandemic, House Democrats have passed two additional COVID-19 relief packages that would help families get through this economic crisis and invest in the testing and vaccine distribution we need to reopen safely.  It is past time to reach agreement on a COVID-19 relief bill that can be signed into law. I will continue to urge Senator Mitch McConnell and Senate Republicans to get serious about negotiations, using the bipartisan Senate proposal as a start.  We can and must reach an agreement now. The American people are looking to Congress for responsible leadership, and we must deliver.”

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For more information about House Majority Leader Steny H. Hoyer, visit his Leader member page.