More new unemployment claims than expected

Experts expected 1.3 million new claims last week, instead the numbers showed 1.5 million. A possible sign an economic turnaround is still far away.

Posted: Jun 18, 2020 9:43 PM
Updated: Jun 18, 2020 10:49 PM

MASON CITY, Iowa - Last week's initial unemployment claims were higher than expected, coming in at 1.5 million.  Experts were thinking it would be closer to 1.3 million.

"It was a surprise to me. Having it that high, a million and a half new claims," said Rayce Hardy, economics instructor at Riverland Community College.  He didn't think the numbers would be that high.  He thinks companies aren't pulling in enough profits from the slow reopening.

"It seems that companies that figured out with the reopening maybe had hopes that things were going to go well for them and it wasn't quite enough for them to be able to make it," said Hardy.

According to Hardy, the real measure of how the economy is faring is in the continuing unemployment claims, which is right around 20 million people right now.  He says the unemployment stimulus might be keeping job seekers at home.

"Some of those are just people saying, 'Hey, if i can get the extra 600 bucks until July 31st, I'm not going to work that hard at getting a job.'"

As more businesses begin to open their doors, people how are living paycheck to paycheck might be more careful when it comes to opening their wallets.  Hardy says less spending means less jobs.

"There are some people where that might have been a wakeup call that, 'Hey, I better be real careful with my future expenditures here and maybe not make a big purchase.'"

Belva Payton from Thornton is aware of the economic woes of the country.  She agrees the economy is still struggling to get back up to speed.

"There's a lot of restaurants and things that still aren't open. The ethanol plant - my husband hauls corn to the ethanol plant and that's just reopened again so it doesn't surprise me," said Payton.

Minnesota Coronavirus Cases

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Confirmed Cases: 98447

Reported Deaths: 2072
CountyConfirmedDeaths
Hennepin27557932
Ramsey11167323
Dakota7692126
Anoka6281137
Stearns409424
Washington391855
Scott264833
Olmsted253528
Nobles197916
Blue Earth17366
St. Louis172542
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Carver14467
Clay142441
Rice13478
Mower13446
Sherburne117714
Kandiyohi10563
Winona92018
Lyon7334
Waseca7228
Benton5633
Steele5552
Crow Wing55418
Nicollet54717
Freeborn5464
Watonwan5354
Chisago5171
Todd5072
McLeod5022
Le Sueur4764
Otter Tail4694
Beltrami4605
Martin44611
Goodhue3899
Pine3550
Douglas3522
Itasca35215
Polk3274
Isanti3191
Becker2842
Carlton2791
Morrison2702
Dodge2610
Pipestone23810
Chippewa2321
Cottonwood2290
Meeker2132
Wabasha2060
Sibley2023
Yellow Medicine1982
Brown1962
Cass1864
Rock1810
Redwood1783
Murray1742
Mille Lacs1693
Renville1618
Jackson1531
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Faribault1470
Swift1441
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Houston1300
Kanabec1288
Roseau1260
Koochiching1233
Hubbard1221
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Lincoln1180
Stevens1071
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Wilkin713
Lac qui Parle681
Grant634
Lake600
Norman560
Marshall531
Mahnomen491
Red Lake451
Traverse340
Clearwater310
Lake of the Woods241
Kittson120
Cook70

Iowa Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 87828

Reported Deaths: 1332
CountyConfirmedDeaths
Polk16113264
Woodbury559768
Johnson517927
Black Hawk454192
Linn4163114
Story348517
Dubuque340242
Scott309528
Dallas282938
Pottawattamie220139
Buena Vista200312
Marshall179434
Sioux17073
Wapello134157
Webster131714
Plymouth118221
Clinton113921
Muscatine112855
Crawford11086
Cerro Gordo106421
Warren9696
Jasper87034
Des Moines8068
Henry7734
Marion7728
Tama75332
Carroll6955
Lee6527
Wright5971
Dickinson5426
Boone5268
Bremer5067
Washington48511
Delaware4413
Louisa43415
Mahaska42720
Lyon3754
Jackson3583
Floyd3573
Franklin35218
Clay3434
Winneshiek3408
Benton3381
Hamilton3343
Winnebago32313
Hardin3111
Poweshiek3118
Buchanan2921
Jones2893
Kossuth2860
Butler2792
Emmet27510
Chickasaw2701
Shelby2701
Clarke2693
Clayton2683
Sac2670
Allamakee2656
Guthrie2649
Harrison2593
Cherokee2572
Cedar2531
Fayette2382
Madison2342
Grundy2294
Iowa2221
Palo Alto2080
Hancock1992
Mitchell1970
Humboldt1943
Howard1927
Mills1911
Page1910
Calhoun1883
Osceola1770
Cass1762
Pocahontas1662
Monona1621
Monroe16211
Lucas1566
Appanoose1443
Union1423
Jefferson1401
Taylor1341
Davis1284
Ida1281
Fremont1220
Keokuk1191
Van Buren1181
Worth1090
Greene1050
Montgomery995
Audubon891
Wayne882
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