Why Have Initial Unemployment Claims Stayed so High for so Long?

Posted: 9 Jul 2021

See all articles by Brendan M. Price

Brendan M. Price

Board of Governors of the Federal Reserve System

Date Written: July, 2021

Abstract

As the labor market recovers from the COVID-19 pandemic, claims for unemployment insurance (UI) have been surprisingly slow to return to conventional levels. As recently as 2021Q1, initial claims for regular UI benefits averaged nearly 800,000 per week (see Figure 1)—more than twice as many as were observed at a comparable point during the recovery from the Great Recession.

Suggested Citation

Price, Brendan M., Why Have Initial Unemployment Claims Stayed so High for so Long? (July, 2021). FEDS Notes No. 2021-07-02-2, Available at SSRN: https://ssrn.com/abstract=3883066 or http://dx.doi.org/10.17016/2380-7172.2932

Brendan M. Price (Contact Author)

Board of Governors of the Federal Reserve System ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

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