Over One Million More Jobless Americans Apply for UI
What’s gone on since March is unprecedented in US history. Nothing remotely like it ever happened before.
For 31 straight weeks, over one million Americans filed claims for unemployment benefits.
Numbers for the latest week include 787,000 applying for regular state unemployment insurance (UI), along with another 345,000 seeking Pandemic Unemployment Assistance (PUA).
The latter federal program is for jobless US workers not eligible for regular UI.
PUA provides up to 39 weeks of aid, the program expiring at yearend.
The latest jobless numbers are slightly below the revised previous week’s figures — yet far exceed the highest ever totals ever before reported.
US unemployment is 26.9%, not the phony 7.69% Labor Department figure.
The true number is based on how unemployment was calculated pre-1990 — after which the model was rigged to exclude so-called out-of-the-workforce Americans.
They number over 100 million unemployed working-age Americans, a disturbing indictment of a broken system.
Except for its privileged class, the state of the nation’s economic health is far more dismal than widely misreported.
Included in the most recent data, continuing claims for regular UI dropped from 9.4 million to 8.37 million — because over one million jobless Americans exhausted their benefits.
They’re still entitled to another 13 weeks of so-called Pandemic Emergency Unemployment Compensation (PEUC).
When exhausted, they’re on their own unless newly agreed on federal aid is forthcoming.
So far, Trump regime Treasury Secretary Mnuchin and Dem House Speaker Pelosi failed to agree on more stimulus for Americans in need.
Whatever is agreed on must be translated into legislation passed by House and Senate members.
On Thursday, Pelosi said if differences are resolved between her and Mnuchin, “it’ll take a while to write the bill” — with no assurance of adoption.
According to the Washington Post on Friday, “Senate Republicans are growing increasingly frustrated with…Mnuchin as he makes what they see as unacceptable compromises in his quest for a stimulus deal with…Pelosi” — citing unnamed sources familiar with talks.
They consider a $1.9 trillion package Mnuchin reportedly agreed on too much.
It includes $300 billion for cash-strapped states and local communities “many” Senate Republicans consider “a non-starter.”
According to one unnamed GOP source, “(t)he idea that our conference is going to go along with whatever bad deal he cuts with Pelosi is completely unrealistic.”
Whether both sides can reach accommodation pre-election is very much uncertain.
On Wednesday, Senate Majority Leader McConnell proposed a woefully inadequate $500 billion package — rejected by Dems.
Senate Majority Whip John Thune said it’ll be hard to get enough Republicans to go along with what Pelosi and Mnuchin are discussing.
McConnell said if both figures agree on a stimulus deal able to be passed by House members, he won’t commit to when he would agree to a Senate vote.
While politicians in Washington dither and dicker, millions of US households in need at a time of mass unemployment and economic collapse are stiff-armed and ignored.
The same goes for cash-strapped states, cities, and other local communities in need of federal help to avoid mass layoffs that would exacerbate large-scale unemployment and make an already dire situation much worse.
My two Wall Street books are timely reading:
“How Wall Street Fleeces America: Privatized Banking, Government Collusion, and Class War”
“Banker Occupation: Waging Financial War on Humanity”