New US Jobless Claims
Fall to 375,000, as Nearly 3 Million
Americans Remain Unemployed.
For the third week in a row, initial jobless claims
declined as the United States' labor market
continues to recover from the 2020 recession.
For the third week in a row, initial jobless claims
declined as the United States' labor market
continues to recover from the 2020 recession.
On August 12, the Labor Department said
that new claims for jobless benefits
came down to 375,000 last week.
On August 12, the Labor Department said
that new claims for jobless benefits
came down to 375,000 last week.
CNBC reports that there were also
a record high number of open jobs
at the end of July.
The number of continuing jobless claims fell to 2.866 million for the last week of July, according to the same report. .
That is the lowest level
since mid-March 2020.
In an effort to bring back jobs lost during
the shutdown, Federal Reserve officials
let inflation steadily climb.
In an effort to bring back jobs lost during
the shutdown, Federal Reserve officials
let inflation steadily climb.
According to CNBC, Christopher Waller, a member of the Federal Reserve Board of Governors, said that strong jobs reports could lead the central bank to slow that inflation in the fall.
According to CNBC, Christopher Waller, a member of the Federal Reserve Board of Governors, said that strong jobs reports could lead the central bank to slow that inflation in the fall.
While unemployment benefits and payouts
were expanded during the pandemic,
some states have already ended the programs.
While unemployment benefits and payouts
were expanded during the pandemic,
some states have already ended the programs.
The national unemployment program
is set to expire in September.
