New applications for U.S. unemployment insurance benefits fell 20,000 for the week ending December 10 to a seasonally adjusted 211,000. The previous week’s figure was revised up from 230,000 to 231,000. The four-week moving average as of December 10 fell to 227,250 from a revised 230,250 as of the week ending December 3.
The number of continuing unemployment insurance claims, which refers to the number of unemployed workers who filed for benefits at least two weeks ago and are actively receiving unemployment benefits, rose 1,000 from the previous week’s revised number to a seasonally adjusted 1.671 million for the week ending December 3. Reporting for continuing claims lags one week.
Unemployment insurance is a joint federal and state program that provides temporary monetary benefits to eligible laid-off workers who are actively seeking new employment. Qualifying individuals receive unemployment compensation as a percentage of their lost wages in the form of weekly cash benefits while they search for new employment.
The federal government oversees the general administration of state unemployment insurance programs. The states control the specific features of their unemployment insurance programs, such as eligibility requirements and length of benefits.
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