Pandemic Unemployment Assistance Initial Claims in Puerto Rico
This dataset tracks pandemic unemployment assistance initial claims in puerto rico over time.
Latest Value
1.00
Year-over-Year Change
N/A%
Date Range
4/4/2020 - 11/5/2022
Summary
The Pandemic Unemployment Assistance (PUA) Initial Claims in Puerto Rico measures the number of people in Puerto Rico who have filed for unemployment benefits under the PUA program, which provides aid to workers ineligible for traditional unemployment insurance.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The PUA program was introduced as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act in 2020 to provide unemployment assistance to self-employed, gig, and other workers not typically covered by state unemployment benefits. Tracking PUA claims helps policymakers understand the ongoing economic impact of the pandemic on Puerto Rico's workforce.
Methodology
The data is collected by the U.S. Department of Labor from Puerto Rico's state workforce agency.
Historical Context
PUA claims data is used by economists and policymakers to assess the state of the Puerto Rican labor market and inform decisions around economic recovery efforts.
Key Facts
- PUA claims in Puerto Rico peaked in July 2020.
- PUA claims account for over 50% of total unemployment claims in Puerto Rico.
- Puerto Rico's PUA claims remain elevated compared to pre-pandemic levels.
FAQs
Q: What does this economic trend measure?
A: The Pandemic Unemployment Assistance (PUA) Initial Claims in Puerto Rico measures the number of people in Puerto Rico who have filed for unemployment benefits under the PUA program, which provides aid to workers ineligible for traditional unemployment insurance.
Q: Why is this trend relevant for users or analysts?
A: Tracking PUA claims helps policymakers understand the ongoing economic impact of the pandemic on Puerto Rico's workforce and inform decisions around economic recovery efforts.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Department of Labor from Puerto Rico's state workforce agency.
Q: How is this trend used in economic policy?
A: PUA claims data is used by economists and policymakers to assess the state of the Puerto Rican labor market and inform decisions around economic recovery efforts.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and limitations of the U.S. Department of Labor's reporting on state unemployment claims.
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Citation
U.S. Federal Reserve, Pandemic Unemployment Assistance Initial Claims in Puerto Rico (PUAICPR), retrieved from FRED.