Department of labor announces 121,000 unemployment claims in Pennsylvania

Department of labor announces 121,000 unemployment claims in Pennsylvania

The department of labor in Pennsylvania has announced on this Monday that the unemployment application and its waivers for the workers impacted by the Coronavirus. In a period of two days, this department has already received more than 121,000 applications for unemployment. When they had been asked for one updated number on this Thursday, the labor department declined to disclose any further information about the unemployment figures.

The secretary has said that the number of applications have now been embargoed by the department.

The US department of labor has been asking states to keep the information regarding the unemployment data secret and claiming that the information is an economic indicator which is important and might be impacting the markets potentially. The plans of the DOL are to release the figures late in the coming week.

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The spokesperson for the department has said that the data has been embargoed regularly until the numbers are nationally published on the morning of Thursday and the states have been asked to not share the data until this time. As a major indicator of the economy, this has the potential of impacting the policy decisions and the financial markets and it is very important to make sure that the state data has been communicated in a manner which is consistent and fair. The attempt of the Labor Department has been to release the numbers of this state in bulk and this may lead to the publication of a large number of public claims in the coming week which might end up shaking the market a lot more. This is a number which the experts say might be huge and add to a lot more uncertainty.

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