New claims for unemployment insurance benefits in the United States fell by 6,000 for the week ending January 21 to a seasonally adjusted 186,000. The previous week’s figure was revised up from 190,000 to 192,000. The four-week moving average on January 21 fell to 197,500 from the revised 206,750 in the week ending January 14.
The number of continuing unemployment insurance claims, which refers to the number of unemployed people who applied for benefits at least two weeks ago and are actively receiving unemployment benefits, increased by 20,000 compared to the revised number of the previous week to reach a seasonally adjusted 1.675 million for the week ending January 14. The reporting of continuing claims is delayed by 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. Eligible persons 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. States control specific features of their unemployment insurance programs, such as eligibility requirements and duration of benefits.
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