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U.S. jobless claims tick up from near a pandemic low – The Denver Post – Denver, Colorado

Denver, Colorado 2021-09-23 09:33:22 –

Washington — The number of Americans applying for unemployment assistance increased to 351,000 for the second straight week last week. This indicates that the coronavirus delta variant may be at least temporarily impeding the recovery of the job market.

A Thursday report from the Ministry of Labor showed that unemployed claims increased by 16,000 from the previous week. As the employment market strengthens, unemployment aid applications that generally track layoffs have fallen since exceeding 900,000 earlier this year, reflecting the economic resumption after the pandemic recession. The four-week moving average of claims, which smoothes weekly fluctuations, recorded six consecutive declines, reaching a pandemic low of 336,000.

Unemployment claims are still rising slightly. Before the virus destroyed the economy in March 2020, there were generally about 220,000 cases per week.

In a research report, Contingent Macro Advisors concluded that the recent surge in unemployment allowance applications is likely to reflect technical issues in claim processing, especially in California and Virginia last week. rice field. The weeks aren’t alarming yet, but the next few weeks definitely need to be watched carefully. “

American employers have increased their employment rapidly since cutting 22 million jobs in March and April 2020, as the pandemic and the closure to contain it almost stopped economic activity. Since then, the economy has regained about 17 million jobs as vaccine deployments have opened and expanded businesses and encouraged Americans to return to shopping, traveling and eating out.

U.S. jobless claims tick up from near a pandemic low – The Denver Post Source link U.S. jobless claims tick up from near a pandemic low – The Denver Post

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