Photo: ADEM ALTAN / AFP / Getty Images
For: The Opinion
Friday, September 20
Weekly US Unemployment Claims Stable Below Pre-pandemic Level
The United States Department of Labor reported that the number of Americans who applied for unemployment benefits last week continued to hover around the lowest since 1969, which makes it clear that job creation is recovering from the Covid pandemic – 19.
The figures published by the federal agency indicate that requests for the week ended 18 December remained at 205, 000 , unchanged from the level of the previous week. This figure is in line with the forecast of 206, 000 from Refinitiv analysts.
Unemployment Insurance Weekly Claims
Initial claims were 123, for the week ending 12 / 18, unchanged from the previous week’s revised level.
Insured unemployment was 1, 859, 000 for the week ending 12 / 11 (-8, 000) .https: //t.co/ys7Eg5LKAW
– US Department of Labor (@USDOL) December 23, 2020
Continuing claims, or the number of Americans receiving consecutive help you for unemployment, were reduced to 1. 859 million, a decrease of 8, 000 compared to the previous week . That is the lowest level of insured unemployment since 14 March 2020, when it was 1. 77 millions.
The report shows that about 2. 14 Millions of Americans were receiving unemployment benefits during the week ending 11 December, a small decrease from 123 compared to the previous week; by comparison, just over a year ago, it was estimated that 21. 000 millions of Americans were receiving benefits .
According to a Reuters report, applications generally increase during cold weather months, but an acute shortage of workers has halted that seasonal pattern, which has resulted in fewer seasonally adjusted claims in recent weeks.
But pressures on consumer prices continue and a measure of core inflation recorded its largest annual increase since 1989 in November, which skyrocketed above 6%. Situation that has concerned not only citizens, but also the Biden administration.
The report presented by the Department of Labor is given when the Nation is Fighting Strains of Covid – 19, driven by the Delta and the Omicron variant, which could hamper economic growth in the last quarter of 2021 which is nearing completion.
By the Christmas season, many companies dedicated themselves to hiring in order to meet the high demand from consumers for At this time, it is not known so far what percentage of signed personnel is temporary and which is from plant. It will be until the holiday season is over that the real impact of hiring is known.
You may also like: Biden says his top goal right now is to fight inflation