The number of people filing a new unemployment claim in South Carolina increased slightly last week as the state continued to struggle through one of the worst recessions in recent history.
Roughly 7,255 people filed an new unemployment application with the S.C. Department of Employment and Workforce during the second week in August.
That's an increase of 1,334 claims from the week before.
The slight jump ends a streak of relatively positive news for the state economy, which previously saw the initial unemployment claims decline for four straight weeks.
It's too early to say whether the increase is a sign that the state's economic recovery is starting to falter. Dan Ellzey, DEW's director, emphasized that the small bump in layoffs in South Carolina should not be cause for alarm just yet.
“Although this week’s initial claims data exhibited an uptick, fluctuation of claims data is common," Ellzey said. "Our teams have reviewed the available information and there is no significant singular event that can account for the increase."
The bigger issue for the state is the number of people who lost their jobs earlier this year and are still out of work.
Data collected by the U.S. Department of Labor shows there was nearly 160,000 South Carolinians who were in that position at the beginning of August. That number is better than it was earlier this year when more than 200,000 people continued to rely on the state's unemployment system.
For perspective, the 160,000 people certifying their jobless claims is still far larger than anything South Carolina managed during the Great Recession.
Economists are worried about that long term unemployment. It could hamper the economic recovery by suppressing overall consumer spending, which drives roughly 70 percent of the nation's economy.
Earlier this year, South Carolinians who relied on jobless benefits were able to cash on an extra $600 in federal assistance each week.
But that federal spending ran out in July, leaving people to subsist off of state unemployment payments of $326 per week or less.
The Democratic-controlled U.S. House voted to extend the extra $600 in weekly benefits through the end of the year. But that proposal has been held up by negotiations with the Republican-led Senate and President Donald Trump's administration.
In response, Trump signed a executive memorandum earlier this month. That memo announced that Trump would use federal disaster relief money to send money to states for an extra $300 per week in unemployment benefits.
Implementing that proposal could take weeks or months, however. For now, the people who lost their jobs amid the pandemic will need to make due with whatever the state can provide.
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New unemployment claims increased slightly in SC last week as recession continued - Charleston Post Courier
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