Business

New state unemployment claims fall to pandemic lows

New bill for unemployment allowance The government reported last week that it had fallen to a pandemic low, providing new evidence of a labor market recovery.

A total of 566,000 workers claimed state benefits for the first time in the week ending Saturday, according to the Ministry of Labor. From the revised chart of the previous week. In addition, 133,000 new claims have been filed for pandemic unemployment support, a federal program for freelancers, part-timers, and others who are not eligible for state benefits.

On a seasonally adjusted basis, the new state billed a total of 547,000.

Cathy Boss Janchich, Chief Financial Economist in the United States, said: Oxford Economics.

“We see both a strong resumption of economic activity and job demand,” she said.

Warm climate, broader coronavirus vaccination Efforts to enable personal consumption and a range of government support have all contributed to recent profits.

Ann Elizabeth Konkel, an economist at Indeed, an online job site, said job listings last Friday increased 19% from pre-pandemic levels. “We need a lot of employment for a while to absorb all the workers who were temporarily dismissed,” she said.

Budget reserves remain.The labor market is under pressure due to continued anxiety Coronavirus infection Request Childcare When a regular school schedule is interrupted.

According to the Census Bureau’s weekly household pulse survey, more than 4 million people who were unemployed in March said they weren’t working for fear of catching Covid-19.

“It’s important to keep in mind that this trend is heading in the right direction,” said Heidi Sirholtz, policy director at the Left Institute for Economic Policy.

The weekly level of new claims is still close to the record high recorded before the pandemic. There are also about 8.4 million fewer jobs than in early 2020.

Long-term unemployed people who make up the above 43 percent We are facing certain hurdles in the total number of non-workers. In contrast to the initial claims, which reflected recent unemployment, the rank of these filing claims to continue to receive emergency federal benefits rose in early April.

Total state benefits aimed at helping the long-term unemployed have declined.But new report According to a study by the University of California-based research institute California Policy Lab, extended unemployment insurance is prematurely terminated in some states due to the way claims are counted.

New state unemployment claims fall to pandemic lows

Source link New state unemployment claims fall to pandemic lows

Back to top button