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Iowa Workforce jobless claims up

Iowa Workforce jobless claims up

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DES MOINES — The number of initial unemployment claims in Iowa, filed between Nov. 15 and Nov. 21, was 9,458, an increase of 3,466 from the previous week’s adjusted numbers.

There were 8,720 initial claims by individuals who work and live in Iowa, and 738 claims by individuals who work in Iowa and live in another state.

The number of continuing weekly unemployment claims was 37,112, an increase of 2,310 from the previous week.

November through February are traditionally the months Iowa Workforce Development sees the most unemployment claims, driven by increased claims in construction, agriculture, landscaping and manufacturing due to seasonal layoffs.

For the week ending Nov. 21, almost 43.6% of claimants indicated their claims were not COVID-19 related.

The U.S. Department of Labor adjusted last week’s initial claim number to 5,992 (a decrease of 320) and continuing claims to 34,802 (a decrease of 440 for a total decrease of 760 overall).

Iowa Workforce Development and all IowaWORKS Centers will be closed November 25-27 in observance of the Thanksgiving holiday.

For the week ending Nov. 21 unemployment insurance benefit payments totaled $10,269,549.21.

The following industries had the most claims:

• Manufacturing (1,622)

• Construction (1,271)

• Industry Not Available - Self-employed, Independent Contractors, etc (1,245)

• Health Care & Social Assistance (920)

• Accommodation & Food Services (780)

A total of $1,538,400 in Federal Pandemic Unemployment Compensation (FPUC) benefits was paid, which were retroactive payments as the program ended July 25. Since April 4, a total of $1,622,468,833 in FPUC benefits has been paid.

A total of $3,874,922.90 was paid in Pandemic Unemployment Assistance (PUA) benefits. Since April 13, 2020, a total of $150,526,718.54 in PUA benefits has been paid.

A total of $8,336,985.80 in benefits has been paid in Pandemic Emergency Unemployment Compensation (PEUC) benefits. Since May 27, a total of $141,547,790.13 in PEUC benefits have been paid.

A total of $108,609.59 was paid in State Extended Benefits (EB). Since July 21, a total of $17,533,019.73 in State EB has been paid. The United States Department of Labor notified Iowa that due to our economic recovery, the State EB program ended the week ending October 31. 

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Mark Grywacheski spent more than 14 years as a professional trader in Chicago, where he served on various committees for multiple global financial exchanges and as an industry Arbitrator for more than a decade. He is an expert in financial markets and economic analysis and is an investment adviser with Quad-Cities Investment Group, Davenport.

Disclaimer: Opinions expressed herein are subject to change without notice. Any prices or quotations contained herein are indicative only and do not constitute an offer to buy or sell any securities at any given price. Information has been obtained from sources considered reliable, but we do not guarantee that the material presented is accurate or that it provides a complete description of the securities, markets or developments mentioned. Quad-Cities Investment Group LLC is a registered investment adviser with the U.S. Securities Exchange Commission.

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