header image

[Sign Up Now] to Receive Our FREE Daily SCVTV-SCVNews Digest by E-Mail

Inside
Weather
Santa Clarita CA
Sunny
Sunny
59°F
 
Calendar
Today in
S.C.V. History
December 3
1887 - Prohibitionist Henry Needham purchases land in Newhall, attempts to establish "dry" colony [story]
H.C. Needham


By Amanda Pampuro

(CN) — The number of Americans receiving unemployment insurance benefits out-populates Australia. On top of the 25.3 million people currently receiving benefits, 2.98 million Americans brought their first claims last week, the U.S. Department of Labor reported Thursday.

Between the spread of COVID-19 and measures taken to reduce public health risks, 15.7% of Americans are out of a job today.

With nearly a third of its population on unemployment insurance benefits, California ranks highest in the country, followed by Michigan and Nevada, both above 20%.

In the first week of May, Oklahoma, Maryland and New Jersey saw the highest spikes in claims. Meanwhile states like Florida and Georgia, which opted to reopen their economies, reported the largest decreases in claims. In the Sunshine State, 258,000 fewer people applied for unemployment benefits compared to the prior week.

The Department of Labor used covered employment of 145,671,710 in its calculation, defining that term as Americans who are “unemployed through no fault of their own,” while also meeting certain work and wage requirements.

Weekly rates of initial claims for benefits have decreased over the last five weeks, but some economists caution the bottom of the trough is still a long way down.

New York Federal Reserve economist Joseph Briggs projected U.S. unemployment will hit 40 million in the second quarter, but 75% of these jobs to return by the years end. Given today’s reported unemployment, that would leave 6 million people out of work during Christmas.

Despite the staggering unemployment numbers, a May 13 poll from Morning Consult reports 70% of Americans, including 82% of Democrats and 56% of Republicans, continue to support social distancing to slow the spread of Covid-19.

People who either have had or know someone who contracted the disease were more likely to support extending social distancing.

According to the U.S. Bureau of Labor Statistics’ April jobs report, the hardest-hit demographic was working teenagers, 32% of whom lost a job, followed by women and Hispanics.

While 12.4% of white men lost jobs in April, black women (16.4%) and Latinas (20.2%) experienced unemployment at a much higher rate. Although women made up 49% of the pre-pandemic workforce, they made up 55% of April unemployment leading some to describe the economic downturn as a “shecession.”

An analysis from the National Women’s Law Center found this trend continued across most job sectors. Women made up 48% of retail positions but accounted for 61% of job losses.

“Between the end of the Great Recession in July 2010 and the start of the Covid-19 crisis in February 2020, women gained 11.1 million jobs. In April 2020, the entirety of those gains was wiped out,” Claire Ewing-Nelson, National Women’s Law Center research fellow, noted in the report.

In a May 13 report, investment firm Goldman Sachs highlighted consumer spending trends signifying slight recovery from the stay-at-home economy. While rideshare-app use is still down 56% compared with last year, last week marked the fourth week in which Uber rides increased, particularly during weekday, 9-to-5 trips.

Researchers also found a 15% uptick compared with last year in Americans using the Starbucks app, which allows for cashless payment and may indicate a taste for beginning the dawn of the new economy with a cup of coffee.

“Consumers are still at the trough of impacts from COVID-19,” the report explains. But if the trends continue over the next few months, it says, “the ‘stay at home’ category will show significantly slower growth, while the ‘back to normal’ category will likely [show] moderate declines as people resume daily activities of dining, commuting, and travel.”

The leisure and hospitality industry, which includes restaurants and bars, lost 7.7 million jobs in April. According to the New York Fed’s survey of consumer expectations, only about 46% of Americans think they can find a new job if they lose theirs, down from 58% compared with last year.

Still service industry veterans remain hopeful.

“I’ve been in the business long enough that we’ve gone through many, many crises from SARS and 9/11, to the ‘70’s gasoline crisis,” said Peter Ricci, director of hospitality management programs at Florida Atlantic University. “This one is different in that it’s affected every industry segment at the same time, but something that the hospitality industry is very strong on is creativity and cleanliness.”

Until jobs return, Ricci said: “What you need to do in the short run is better prepare yourself to be one of the people who gets hired when people start hiring again. So finish your degree, continue your education with some certifications, do the MBA that you always talked about but you never did.”

The U.S. Department of Labor jobs report can be viewed below:

 

[Open .pdf in new window]

The Goldman Sachs consumer spending trends report can be viewed below:

 

[Open .pdf in new window]

The analysis from the Women’s National Law Center can be viewed below:

 

[Open .pdf in new window]

Comment On This Story
COMMENT POLICY: We welcome comments from individuals and businesses. All comments are moderated. Comments are subject to rejection if they are vulgar, combative, or in poor taste.
REAL NAMES ONLY: All posters must use their real individual or business name. This applies equally to Twitter account holders who use a nickname.

0 Comments

You can be the first one to leave a comment.

Leave a Comment


SCV NewsBreak
LOCAL NEWS HEADLINES
Thursday, Dec 3, 2020
Tejon Ranch Accused of Violating Pact to Fund Conservation
(CN) — Real estate developers who promised to fund a nonprofit dedicated to preserving 90% of a 270,000-acre property north of Los Angeles are violating a 12-year-old pact by cutting their quarterly conservation payments, environmental groups claim in a new lawsuit.
Wednesday, Dec 2, 2020
Wednesday COVID-19 Roundup: Record Hospitalizations in L.A. County; SCV Total Cases Top 10K
The Los Angeles County Department of Public Health on Wednesday reported 40 new deaths and 5,987 new confirmed cases of COVID-19 countywide, as the total number of Santa Clarita Valley residents diagnosed with the virus topped 10,000.
Wednesday, Dec 2, 2020
Lawmakers Demand Answers from Bank of America on Draining of EDD Accounts
California Senator Scott Wilk (R-Santa Clarita) and more than 50 other lawmakers are demanding answers from Bank of America surrounding the state Employment Development Department’s latest problem: the freezing and draining of unemployment benefits in EDD accounts.
Keep Up With Our Facebook

Latest Additions to SCVNews.com
JCI Santa Clarita, a premier young professional organization in the community, is partnering with our local WiSH Education Foundation to present the First Annual Virtual WiSH Run starting Friday, Jan. 1 - Saturday, Jan 9.
JCI Santa Clarita, WiSH Foundation Partner for Inaugural Virtual WiSH Run
(CN) — Real estate developers who promised to fund a nonprofit dedicated to preserving 90% of a 270,000-acre property north of Los Angeles are violating a 12-year-old pact by cutting their quarterly conservation payments, environmental groups claim in a new lawsuit.
Tejon Ranch Accused of Violating Pact to Fund Conservation
The city of Santa Clarita encourages interested residents to apply for several positions serving on the Arts Commission; the Parks, Recreation and Community Services Commission; the Planning Commission; and the Open Space Preservation District Financial Accountability and Audit Panel (FAAP).
Santa Clarita Seeking Local Residents for Appointment Vacancies
GreenPal, an app that connects homeowners with local, vetted lawn care professionals, is launching this week in Santa Clarita.
GreenPal Lawn Mowing App Launches in Santa Clarita
The Santa Clarita Valley Education Foundation (SCVEF) is pleased to announce that they will be hosting a virtual Teacher Tribute on Friday, Dec. 4, at 4:00 p.m.
Dec. 4: SCV Education Foundation’s Virtual Teacher Tribute
1887 - Prohibitionist Henry Needham purchases land in Newhall, attempts to establish "dry" colony [story]
H.C. Needham
The Los Angeles County Department of Public Health on Wednesday reported 40 new deaths and 5,987 new confirmed cases of COVID-19 countywide, as the total number of Santa Clarita Valley residents diagnosed with the virus topped 10,000.
Wednesday COVID-19 Roundup: Record Hospitalizations in L.A. County; SCV Total Cases Top 10K
In response to the current surge of COVID-19 cases, the Los Angeles County Department of Parks and Recreation is suspending in-person outdoor programs in accordance with the county's Nov. 30 "Safer At Home" Health Officer Order to stop the spread of COVID-19.
L.A. County Parks Halt In-Person Outdoor Programs Due to COVID-19 Surge
The California Interscholastic Federation or CIF has postponed youth sports competitions including championship events until at least Jan. 1, due to the surge in COVID-19 cases statewide.
CIF Postpones Education-Based Athletics into 2021
California Senator Scott Wilk (R-Santa Clarita) and more than 50 other lawmakers are demanding answers from Bank of America surrounding the state Employment Development Department’s latest problem: the freezing and draining of unemployment benefits in EDD accounts.
Lawmakers Demand Answers from Bank of America on Draining of EDD Accounts
Noah Michael Englerth of Castaic has been missing a month, and Los Angeles County Sheriff’s Department Missing Persons Unit investigators are asking for the public’s help locating him.
Missing: Noah Englerth of Castaic; LASD Asks Public’s Help
With a multiday Red Flag warning issued throughout Southern California, multiple parts of the Santa Clarita Valley remained under consideration for power shutoffs Wednesday.
SCE Warns of Power Shutoffs, State Readies Fire Resources
Santa Ana winds are forecast to return this week, bringing another fire weather watch to the Santa Clarita Valley after thousands across the region faced power shutoffs on Thanksgiving.
Santa Ana Winds Return, SCV Under Fire Weather Watch
A spokesman for the William S. Hart Union High School District confirmed Tuesday a food services worker “participating in meal service on (Nov. 23-24) at Golden Valley High School has since tested positive for COVID-19.”
Hart District Confirms GVHS Food Worker Diagnosed with COVD-19
1972 - Five wounded in Vagos biker gang shooting at Curtis & JoAnne Darcy's Acton '49er Saloon [story]
Darcys 49er
SCV Water ongoing communication efforts surrounding per- and polyfluoroalkyl (PFAS) chemicals were honored with a PRism Award from the Public Relations Society of America – Los Angeles Chapter (PRSA-LA).
SCV Water’s PFAS Community Outreach Earns Top Honors
What is the most effective way for the city of Santa Clarita to allocate Community Development Block Grant (CDBG) funding?
Residents Encouraged to Provide Input on 2021-22 Community Needs Survey
Licensed in 1980, Randal G. Winter Construction is proudly celebrating their 40th year in business.
Santa Clarita-Based Randal G. Winter Construction Celebrates 40 Years
The Los Angeles County Department of Public Health confirmed Tuesday the highest number of new COVID-19 cases and people hospitalized with COVID-19 that L.A. County has ever experienced throughout the pandemic.
Tuesday COVID-19 Roundup: Highest One-Day Increase Countywide to Date, SCV Surpasses 9,900 Cases
In an effort to assist restaurants affected by the COVID-19 restrictions, Los Angeles County will launch the Keep L.A. County Dining Grant Program on Thursday, Dec. 3, at 12:00 a.m.
L.A. County Launches Grant Program for Restaurants Affected by COVID-19 Restrictions
Registration is underway for the College of the Canyons winter session, which boasts more than 300 class sections.
COC’s Winter 2021 Semester Registration Underway
The Los Angeles County Parks and Recreation announced Monday Alina Bokde as the department’s Chief Deputy Director.
Alina Bokde Appointed New Chief Deputy Director for L.A. County Parks
The city of Santa Clarita is seeking to attain more local control of the development of accessory dwelling units through a proposed update of its development code and an ordinance.
Planning Commission Scheduled to Discuss Amendments to Accessory Dwelling Units
Bringing‌ ‌to‌ ‌life‌ ‌the‌ ‌national‌ ‌conversation‌ ‌of‌ ‌the‌ ‌trials‌ ‌and‌ ‌tribulations‌ ‌of‌ ‌2020,‌ the College ‌of‌ ‌the‌ ‌Canyons‌ ‌Theatre‌ ‌Department‌ will present its ‌devised‌ ‌production‌ ‌“Virtuality: the 2020 Tournaments,”‌ ‌on December 4-5.
COC Theatre Department Presents Pandemic-Themed Production
%d bloggers like this: