re: Today's First Time Unemployment Claims at 330,000

quote:

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quote:
initial week of aid rose 50,000 to 2.87 million in the week



2,870,000 people continuing after first week on unemployment

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Here's what I was getting at in that last sentence of my post.

Most (but not all) states provide 26 weeks of state funded unemployment benefits. So lets say (generously) that the national average is 24 weeks after allowing for the size of each non-state's adjustment to the total.

The 2,870,000 figure omits this past week's total, leaving 25 weeks worth of claimants available to still be getting benefits.Reduce that to 23 weeks to accommodate the previous adjustment I just described.

The number of first time claimants that would still be available to receive state benefits if they are still unemployed should be about 7,705,000 based upon the weekly average over the past six months of 335,000 new filings per week.

7,705,000 minus the number of new jobs created in those six months , according to the BLS, approximately 1,200,000 = 6,505,000 if all of the new jobs were taken by those collecting unemployment (which of course they were not).

6,505,000 - 2,870,000 = 3,635,000

Theoretically, having already adjusted for those states granting fewer than 26 weeks, as well as the new jobs created in the past 26 weeks by the BLS, I'm wondering what happened to the 3,635,000 original claimants who should have at least one week remaining on their state eligibility. Did they get a job? Can't be that, as I have already "given" every new job created in that time span to another unemployment recipient.

???