UNEMPLOYMENT ENHANCED BENEFITS & EXTENSION UPDATE 11/05/2020 (COMING SOON! BEFORE 2021)

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UNEMPLOYMENT ENHANCED BENEFITS & EXTENSION UPDATE 11/05/2020 (COMING SOON! BEFORE 2021)

Unemployment updates on what Senate Majority Leader Mitch McConnel said that will impact unemployment benefits, where unemployment currently stands, why some states unemployment is declining but not why you might think and also check out my video on elections.

Senate Majority Leader Mitch McConnel was one of the first people to win dramatically in the elections. One of the first things he has now come out and said is there needs to be stimulus sent out right away. It will be the priority in the Senate as soon as they are back in session and he would like to see it approved soon and start 2021. This would be a larger comprehensive stimulus package that would include enhanced unemployment benefits for the millions of Americans still unemployed.

Another 751,000 Americans claimed first-time jobless benefits last week on a seasonally adjusted basis, the Labor Department reported Thursday. That's down slightly from the prior week. It was a slightly less encouraging report than economists had expected.
On top of that, 362,883 workers not eligible for regular state benefits, such as the self-employed or gig workers, claimed aid under the Pandemic Unemployment Assistance program.
Added up, first-time claims stood at million last week without seasonal adjustments — largely unchanged from the level of the past few weeks.

Nearly 4 million Americans received PEUC benefits in the week ended October 17, up some 280,000 from the previous week.
"There are simply not enough jobs being created to support all of the workers running out of aid before the end of 2020. With the election behind us, it is now time to reach a deal that keeps the lifelines of PEUC and PUA going into next year. We urgently need action before the holiday season," said Andrew Stettner, senior fellow at The Century Foundation, in emailed comments.

The government will publish its October jobs report Friday morning. Economists expect another 600,000 jobs added. If that holds true, America would still be down more than 10 million jobs since February.





Applications for jobless benefits in Florida decreased from 33,542 during the week that ended Oct. 24 to 28,702 during the week that ended Oct. 31, according to a Department of Labor estimate released Thursday.

Florida has seen unemployment improvements despite theme parks and hotels struggling to draw customers.

Sea-World released its earning report Thursday for the 3rd quarter showing attendance down from million in 2019 to million this year. During the 3rd quarter they reopened 10 of 12 properties, including 5 in Florida.

Disney announced that workers in central Florida will be let go on new years eve. They also previously announced 6,700 workers would be let go on December 4, 2020. Disney currently employs 77,000 people in Florida.

As updates come out, I will be sure to share.
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