November 9, 2020
Texas’ initial unemployment claims increased to 36,700 the week ending Oct. 31 after decreasing to their lowest number the previous week, the Real Estate Center at Texas A&M reported. This brings the total since March 21 to 3.77 million.
A key driver of the increase was the growth in initial claims filed under the Pandemic Unemployment Assistance program, which accounted for 5,500 of the claims.
Real Estate Center research economist Luis Torres said the claims increase was accompanied by a current rise in COVID-19 cases, particularly in El Paso, which has seen a surge both in cases and unemployment claims.
The number of Texans who continue to claim unemployment insurance decreased for the eighth straight week to 574,700. However, that improvement is slowing.
“The rate of decline in the number of people filing for initial and continuing unemployment has decreased, possibly reflecting a slowing in the labor market,” said Torres.
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