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Data: Department of Labor; Chart: Axios Visuals

A staggering number of Americans continue to fall into a troubling labor market category: out of work for so long that regular unemployment programs have expired. And, that number is rising.

What it means: People are falling off the state unemployment rolls and likely getting work. But that’s being offset by people who are falling off because they are simply no longer eligible to collect state unemployment.

  • They’re transitioning to the Pandemic Emergency Unemployment Compensation (PEUC) program, which provides 13 extra weeks of support.

What they’re saying: “The decline in continuing claims exaggerates the improvement in total employment," Conrad DeQuadros, an economist at Brean Economics, wrote in a note.

By the numbers: Roughly 160,000 more people moved onto PEUC in the week ending Oct. 24, bringing the total number of claimants to 4.1 million, according to the Department of Labor.

  • PEUC expires on Dec. 26, which will rip financial support out from right underneath millions of people (unless it’s extended by Congress, which appears unlikely).
  • The same is true for Pandemic Unemployment Assistance, the program for gig and freelance workers, where 9.4 million people are said to be collecting benefits.

What to watch: Over half a million people are tapping Extended Benefits, an option for eligible unemployed workers in most states that have exhausted regular state and PEUC benefits — 21,000 fewer people than last week.

Go deeper

Bryan Walsh, author of Future
Nov 18, 2020 - Technology

The robo-job apocalypse is being delayed

Illustration: Eniola Odetunde/Axios

A sprawling new report makes the case that automation and AI won't lead to widespread job destruction anytime soon.

Why it matters: Technological advances in AI and automation will have an enormous impact on the workforce, but it may take decades for those effects to be fully felt. That gives business leaders and politicians a last chance to change labor and education policies that have left too many workers locked in low-quality, low-paying jobs.

Tony Hsieh, longtime Zappos CEO, dies at 46

Tony Hsieh. Photo: FilmMagic/FilmMagic

Tony Hsieh, the longtime ex-chief executive of Zappos, died on Friday after being injured in a house fire, his lawyer told the Las Vegas Review-Journal. He was 46.

The big picture: Hsieh was known for his unique approach to management, and following the 2008 recession his ongoing investment and efforts to revitalize the downtown Las Vegas area.

Dan Primack, author of Pro Rata
6 hours ago - Economy & Business

The unicorn stampede is coming

Illustration: Annelise Capossela/Axios

Airbnb and DoorDash plan to go public in the next few weeks, capping off a very busy year for IPOs.

What's next: You ain't seen nothing yet.