Auto Finance News

No products in the cart.

Subscribe
  • Home
  • News
    • All News
    • Capital & Funding
    • Compliance & Regs
    • Technology
    • Risk Management
    • Sales & Marketing
  • Data
  • EXCELLENCE
  • Magazine
  • Events
    • Auto Finance Summit 2023
    • Powersports Finance Summit 2023
    • Using Pricing Analytics to Increase Loan Profitability and Mitigate Portfolio Risk
  • Podcast
  • Powersports
BIG Wheels
Log In
No Result
View All Result
Auto Finance News
  • Home
  • News
    • All News
    • Capital & Funding
    • Compliance & Regs
    • Technology
    • Risk Management
    • Sales & Marketing
  • Data
  • EXCELLENCE
  • Magazine
  • Events
    • Auto Finance Summit 2023
    • Powersports Finance Summit 2023
    • Using Pricing Analytics to Increase Loan Profitability and Mitigate Portfolio Risk
  • Podcast
  • Powersports
BIG Wheels
Log In
No Result
View All Result
Auto Finance News
No Result
View All Result

US jobless claims fall to lowest level since end of November

Bloomberg NewsbyBloomberg News
February 4, 2021
in Risk Management
Reading Time: 3 mins read
0

Applications for U.S. state unemployment benefits fell last week to the lowest level since the end of November, a sign that job cuts are starting to slow as Covid-19 infections ebb.

Initial jobless claims in regular state programs decreased by 33,000 to 779,000 in the week ended Jan. 30, the third straight decline, Labor Department data showed Thursday. On an unadjusted basis, applications dropped to 816,247.

Continuing claims — an approximation of the number of Americans filing for multiple weeks of state benefits — decreased to 4.59 million in the week ended Jan. 23. Economists in a Bloomberg survey forecast 830,000 initial claims and 4.7 million continuing claims.

The figures, while still elevated, indicate that layoffs related to the pandemic are starting to ebb after jobless claims picked up in December and early January. In the coming months, as more Americans get inoculated and virus cases fall, economic activity is poised to resume and job cuts may decline further.

Policy makers are starting to lift some of the most stringent business restrictions, which should also help to stabilize the labor market. New York Governor Andrew Cuomo said indoor dining can reopen in New York City on Feb. 14, and California Governor Gavin Newsom lifted the state’s stay-at-home order on Jan. 25.

The S&P 500 rose for a fourth day and the yield on the 10-year Treasury note increased to its highest since mid-March. Some economists, including those at Goldman Sachs Group Inc., raised their forecasts for January payrolls following the claims report and other recent labor market data.

Jobs Report

The jobless claims data precede Friday’s monthly jobs report, which is forecast to show the economy added about 100,000 jobs last month after a 140,000 decline in December. Data from ADP Research Institute Wednesday showed company payrolls increased by 174,000 in January.

On Tuesday, Senate Democrats put President Joe Biden’s $1.9 trillion stimulus plan on a fast track to passage, increasing the likelihood it eventually passes on a party-line vote. The bill text has not been drafted yet, but Biden’s proposal includes an extension of expiring federal unemployment programs through September and an increase of supplemental benefits from $300 to $400 per week.

Separate data Thursday showed productivity — or output per hour — fell in the final three months of 2020 by the most since 1981. The decline was a result of a larger jump in hours worked than in output, as more Americans headed back to work.

Other Details

  • States reporting the largest declines in initial claims included Illinois, which showed a more than 55,000 decrease; Among others, Texas and Kansas had declines that exceeded 8,000
  • Initial claims in California surged by more than 46,000
  • Initial claims for Pandemic Unemployment Assistance for self-employed and gig workers fell by 54,678 to 348,912 last week on an unadjusted basis. The program has been subject to widespread fraud, with California estimating that 95% of the state’s fraudulent payments were for PUA claims
  • In the week ended Jan. 16, there were 3.6 million continuing claims for Pandemic Emergency Unemployment Compensation, which provides extended jobless benefits for those who have exhausted their regular state benefits
–By Olivia Rockeman

–With assistance from Erik Wasson, Sophie Caronello and Reade Pickert.

Tags: bloomberg newsjobless claimsunemployment
Previous Post

Santander Consumer USA posts record low NCOs

Next Post

HOG to launch certified pre-owned program

Related Posts

The Ally Financial Inc. logo on a smartphone arranged in Saint Thomas, Virgin Islands, United States, on Friday, Jan. 22, 2021. Ally Financial Inc. fell 5.3%, more than any full-day loss since June 26 as its sector declined.
Risk Management

Ally Financial starts job cuts with less than 5% of staff affected

October 3, 2023
Close up of car tire
Risk Management

Podcast: ‘Weekly Wrap’ on Q3 sales, UAW strike, EVs

October 2, 2023
photo of the U.S. Capital building
Risk Management

PenFed offers auto loan relief to federal employees

September 29, 2023
Next Post
Photographer: David Paul Morris/Bloomberg

HOG to launch certified pre-owned program

STAY INFORMED WITH OUR NEWS ALERTS

COLUMNS

Closeup of car head lamp

Under the Hood: Opposing forces tug at industry’s future

September 15, 2023
Green plant growing from the coins

Under the Hood: Lenders spice up funding routines

August 28, 2023

Innovation & Technology

The Road to Dominance: How Automated Access to Insurance Data is Steering the Automotive Sector

September 26, 2023
Stellantis Dodge EV concept car

Dodge Charger gets electrified makeover

September 22, 2023

RISK MANAGEMENT

The Ally Financial Inc. logo on a smartphone arranged in Saint Thomas, Virgin Islands, United States, on Friday, Jan. 22, 2021. Ally Financial Inc. fell 5.3%, more than any full-day loss since June 26 as its sector declined.

Ally Financial starts job cuts with less than 5% of staff affected

October 3, 2023
Close up of car tire

Podcast: ‘Weekly Wrap’ on Q3 sales, UAW strike, EVs

October 2, 2023

SPONSORED

The Road to Dominance: How Automated Access to Insurance Data is Steering the Automotive Sector

September 26, 2023

A new era in auto finance collections with Voicebots

August 15, 2023

Finding the Perfect Sweet Spot For Your Auto Loan Pricing

June 13, 2023

Resources

ABOUT US

HELP CENTER

MARKETING SOLUTIONS

PRIVACY TERMS

ADA COMPLIANCE

CODE OF JOURNALISM ETHICS

Manage Cookie Consent

Special Content

EXECUTIVES OF THE YEAR

AUTO FINANCE EXCELLENCE AWARDS

MAGAZINE ARCHIVE

INDUSTRY GLOSSARY

Follow Us

twitter linkedin twitter podcast podcast
© 2023 Royal Media
No Result
View All Result
  • Home
  • News
    • All News
    • Capital & Funding
    • Compliance & Regs
    • EVs
    • Exec of the Year
    • Innovation & Technology
    • Management
    • Powersports Finance News
    • Risk Management
    • Sales & Marketing
  • Events
    • Auto Finance Summit East
    • Auto Finance Summit
    • Powersports Finance Summit
    • Equipment Finance Connect
  • Excellence
    • Best Practices
    • Topics
      • Compliance
      • Customer Experience
      • Technology
    • White Papers
    • Glossary
  • Magazine
    • Latest Issue
    • Features
    • New Tracks
    • Car Culture
    • Staffing Shuffles
    • Under The Hood
    • Spotlight
    • Issue Archive
  • Podcast
  • Data
  • +PLUS
  • SUBSCRIBE
  • Log In / Account

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
THIS WEBSITE USES COOKIES

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “I CONSENT”, you consent to the use of ALL the cookies.

Cookie settingsI CONSENT

Review our Cookie Policies
.
Manage Cookie Consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
34f6831605sessionGeneral purpose platform session cookie, used by sites written in JSP. Usually used to maintain an anonymous user session by the server.
a64cedc0bfsessionGeneral purpose platform session cookie, used by sites written in JSP. Usually used to maintain an anonymous user session by the server.
CookieConsentPolicy1 yearUsed to apply end-user cookie consent preferences set by our client-side utility.
cookielawinfo-checkbox-advertisement1 yearSet by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category .
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
crmcsrsessionGeneral purpose platform session cookie, used by sites written in JSP. Usually used to maintain an anonymous user session by the server.
JSESSIONIDsessionThe JSESSIONID cookie is used by New Relic to store a session identifier so that New Relic can monitor session counts for an application.
LS_CSRF_TOKENsessionCloudflare sets this cookie to track users’ activities across multiple websites. It expires once the browser is closed.
LSKey-c$CookieConsentPolicy1 yearUsed to apply end-user cookie consent preferences set by our client-side utility.
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
CookieDurationDescription
__cf_bm30 minutesThis cookie, set by Cloudflare, is used to support Cloudflare Bot Management.
_zcsr_tmpsessionZoho sets this cookie for the login function on the website.
663a60c55dsessionThis cookie is related to Zoho (Customer Service) Chatbox
e188bc05fesessionThis cookie is set in relation to Zoho Campaigns
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
CookieDurationDescription
_ga2 yearsThe _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors.
_gid1 dayInstalled by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously.
CONSENT2 yearsYouTube sets this cookie via embedded youtube-videos and registers anonymous statistical data.
vuid2 yearsVimeo installs this cookie to collect tracking information by setting a unique ID to embed videos to the website.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
CookieDurationDescription
__Host-GAPS2 yearsThis cookie allows the website to identify a user and provide enhanced functionality and personalisation.
_dc_gtm_UA-1038974-31 minuteUsed to help identify the visitors by either age, gender, or interests by DoubleClick - Google Tag Manager.
_fbp3 monthsThis cookie is set by Facebook to display advertisements when either on Facebook or on a digital platform powered by Facebook advertising, after visiting the website.
fr3 monthsFacebook sets this cookie to show relevant advertisements to users by tracking user behaviour across the web, on sites that have Facebook pixel or Facebook social plugin.
test_cookie15 minutesThe test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies.
VISITOR_INFO1_LIVE5 months 27 daysA cookie set by YouTube to measure bandwidth that determines whether the user gets the new or old player interface.
YSCsessionYSC cookie is set by Youtube and is used to track the views of embedded videos on Youtube pages.
yt-remote-connected-devicesneverYouTube sets this cookie to store the video preferences of the user using embedded YouTube video.
yt-remote-device-idneverYouTube sets this cookie to store the video preferences of the user using embedded YouTube video.
yt.innertube::nextIdneverThis cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen.
yt.innertube::requestsneverThis cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
CookieDurationDescription
caf_ipaddrsessionNo description available.
citysessionNo description available.
countrysessionNo description available.
gnt_eidsessionNo description available.
gnt_eu6 hoursNo description
iamcsrsessionZoho (Customer Support) sets this cookie and is used for tracking visitors (for performance purposes)
systemsessionNo description available.
traffic_targetsessionNo description available.
Save & Accept
Powered by CookieYes Logo