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Record string of new weekly unemployment claims in Iowa may be showing signs of abating

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Figures released Thursday provided evidence that a string of record new weekly unemployment claims in Iowa may be abating as businesses across the state reopen.
The U. …

Figures released Thursday provided evidence that a string of record new weekly unemployment claims in Iowa may be abating as businesses across the state reopen.
The U. S. Bureau of Labor Statistics report said there were 14,586 claims for the week ending Saturday. That’s still slightly above the largest number of weekly claims recorded in Iowa before the COVID-19 pandemic began forcing business shutdowns 10 weeks ago:14,201 in December 2000.
But the report also reflected a major adjustment in the figure for the week ended May 14. Initially reported as 13,040, it dropped to 12,056 in Thursday’s report.
There was no explanation for the revision, and the Bureau of Labor Statistics and Iowa Workforce Development did not immediately return a reporter’s emails requesting one.
Revisions of a previous week’s total are routine in the weekly reports, but usually are statistically insignificant — unlike Thursday’s reduction of nearly 8%. If confirmed, it could be another indication of a trend toward lower joblessness after a record run of unemployment claims. That string began when Gov. Kim Reynolds on March 17 ordered the first of a wave of business shutdowns and restrictions to combat the spread of COVID-19.

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