This is breaking news. Please check back here for updates. First-time claims for unemployment insurance continued a modest trend down last week, though the total remains well above what was considered normal prior to the coronavirus pandemic and was a touch higher than Wall Street estimates.The Labor Department reported Thursday that 751,000 U.S. workers filed for benefits, compared to 758,000 from the week before. Economists surveyed by Dow Jones had been expecting 741,000. This was the third straight week that claims were below 800,000, and the four-week moving average fell to 787,000.- Advertisement – – Advertisement – At the same time, the total for those receiving benefits showed a sharp decline, falling by 1.15 million to 21.5 million. For the same period in 2019, there were 1.44 million people getting benefits, reflecting just how deep the jobless problem remains in the coronavirus pandemic era.The insured unemployment rate, which is a simple computation of those receiving benefits against the total workforce, fell 0.3 percentage points to 5%. The headline unemployment rate, which includes multiple other factors, is expected to edge lower to 7.7% from the 7.9% level in September.Illinois saw the biggest weekly increase in claims, climbing 23,200 to 53,138, according to unadjusted data. Kansas, Kentucky, Ohio and Pennsylvania all reported gains of more than 3,000. Massachusetts reported the biggest decline at 9,055 while Florida, Georgia and Michigan also reported substantial decreases.- Advertisement – The numbers come a day before the government’s official nonfarm payrolls report, which is expected to show a gain of 530,000 in October. However, this week’s report is not part of the survey week the Bureau of Labor Statistics uses to compute the monthly number.Claims have been trending lower since the late-March peak of 6.9 million but remain elevated by historical standards. The pre-pandemic peak was 695,000 in October 1982.Continuing claims fell for the sixth straight week, this time by 538,000 to nearly 7.3 million. However, part of the reason for that was the continued migration from those losing benefits into the Pandemic Emergency Unemployment Assistance program, which saw its rolls increase by 277,564 to 3.96 million. Continuing claims are delayed by a week.- Advertisement –
A Virginia Beach man traveled nearly 900 miles to St. Lucie County to meet his long lost father.Rod Hobbs, a father of two, told CBS12 “family is everything,” and for that reason, he spent years searching for his biological father.Hobbs worked closely with private investigators, and found a Port St. Lucie man who goes by “Bobby.”Bobby dated Hobb’s mother while he was training for the U.S. Navy., but lost contact after he was deployed.After 32 years of searching, Hobbs traveled to meet Bobbly, and soon after, two DNA tests confirmed that there is a 99.9 chance that he is his long lost father.Bobby said he never knew about the pregnancy, and offered an emotional apology to his adult son.Hobbs, now 47, said, “it was difficult growing up without a father,” and shared details of his struggle, which included him having to move out and live on his own at the young age fifteen.However, in spite of the hardships he’s faced, Hobbs has found it in his heart to forgive.“It’s the family I wanted my whole life that I didn’t think I would ever have,” he told CBS12.Click here to watch what happened.