A mixed bag of economic news

The director of South Carolina Employment and Workforce is hailing a milestone.  First-time claims came in last week under 6,000.  That was a decrease of nearly 3,000 claims from the prior week.  But Dan Ellzey says it’s important to keep in mind that fewer than 6,000 new filers is three times higher than the weekly totals before the pandemic.  Oconee’s first time filers fell below 100, to 55.  Going forward Ellzey offered this statement:  “We know that South Carolinians are anxiously awaiting details about this weekend’s memorandum signed by President Trump that would provide additional benefits for eligible claimants.  While we do not yet have guidance from the Department of Labor on how to implement this program, we do know several things.  First, there will be additional funds added to an eligible claimant’s weekly benefit amount.  Second, the payments will be made retroactive to claim week ending August 1, 2020.  For that reason, it is critical to continue certifying each week that they are unemployed to ensure any back pay owed to them is processed without delay.”