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Data: U.S. Department of Labor via FRED; Chart: Axios Visuals

More than 1 million Americans filed for unemployment benefits for the first time last week, even as new applications for the Pandemic Unemployment Assistance program fell to their lowest level since March.

State of play: The $900 billion stimulus bill passed by Congress at the end of December extended the PUA program through at least March but also added a new verification process that forces applicants to reapply in order to reduce fraud.

  • That and President Trump's delay in signing the bill is likely why the number of first-time PUA claims fell from more than 310,000 for the week ending Dec 26 to 161,400 during the week ending Jan. 2, Heidi Shierholz, senior economist and director of policy at the Economic Policy Institute, tells Axios.
  • That created "uncertainty/confusion about whether PUA would even exist," she says. "I assume the drop is temporary."

The intrigue: Seasonal adjustment caused another divergence in data, bringing the total number of claims down by 126,000 from the previous week, while the number of claims without accounting for seasonal factors rose by 145,000.

Yikes: Annual data from Challenger, Gray & Christmas found total layoffs in 2020 hit a record 2.3 million, a 289% increase from 2019.

Go deeper: U.S. shed 140,000 jobs in December, halting labor market recovery

Go deeper

Small businesses receive $35 billion in new round of PPP loans

Illustration: Sarah Grillo/Axios

The Small Business Administration said last night that so far this year, it has approved 400,000 Paycheck Protection Program loans worth $35 billion — out of the $284 billion of total available funding.

Driving the news: These are the first figures on the status of the forgivable loan program since it relaunched on Jan. 11.

Updated 1 min ago - World

Trudeau's party projected to win minority government in Canada

Canadian Prime Minister Justin Trudeau. Photo: Jeff Vinnick/Getty Images

Canadian Prime Minister Justin Trudeau's Liberal government was reelected for a third term in the country's parliamentary elections — but without a majority, preliminary results show.

Why it matters: Trudeau has governed Canada with a minority of legislative support in parliament for the past two years. Last month, he called for an election two years earlier than scheduled in the hope of forming a majority government.

54 mins ago - World

Reports: CIA director's team member reported Havana Syndrome symptoms

Central Intelligence Agency (CIA) director Bill Burns during a House Intelligence Committee hearing in April on Capitol Hill. Photo: Al Drago-Pool/Getty Images

A member of CIA director Bill Burns' team who traveled with him to India this month was treated for "symptoms consistent with Havana syndrome," CNN first reported Monday.

Why it matters: Current and former officials told the New York Times the incident signals a "possible escalation" in the mysterious neurological symptoms affecting as many as 200 Americans who've worked in overseas posts since 2016.