Only 14% Of Unemployed Receive Unemployment Insurance Benefits

Apollo Chief Economist

With hiring in the service sector and layoffs in the tech sector, jobless claims may underestimate the ongoing slowdown in the labor market because only 14% of unemployed receive unemployment insurance benefits, see chart below. In other words, with a strong service sector and a weak tech sector, jobless claims may not be a good reflection of what is happening in the labor market.

Only 14% of unemployed receive unemployment benefits
Source: BLS, Apollo Chief Economist. Note: Among unemployed persons who had worked in the past 12 months. BLS link here: https://www.bls.gov/news.release/uisup.t01.htm

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