New applications for U.S. unemployment insurance benefits fell 20,000 for the week ending March 11 to a seasonally adjusted 192,000. The previous week’s figure was revised up from 211,000 to 212,000. The four-week moving average as of March 11 fell to 196,500 from a revised 197,250 as of the week ending March 4.
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, fell 29,000 from the previous week’s revised number to a seasonally adjusted 1.684 million for the week ending March 4. 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.
For information about unemployment insurance programs across the country, click here.