Discussion Paper

Introducing the Unemployment Claims Monitor

Abstract: The COVID-19 pandemic has caused an unparalleled economic slowdown and record numbers of layoffs. Even casual economic observers have seen reports of millions of workers filing claims for unemployment insurance—between the weeks of March 21, 2020 and April 25, 2020, 19 percent of workers covered by unemployment insurance filed an initial claim—but what exactly does this mean for unemployment?1 It is important to understand exactly what an unemployment insurance (UI) claim represents and how it provides information on what is happening in the economy.

Keywords: unemployment claims;

JEL Classification: J64;

https://doi.org/10.29338/wc2020-04

Bibliographic Information

Provider: Federal Reserve Bank of Atlanta

Part of Series: Workforce Currents

Publication Date: 2020-05-06

Number: 2020-04