The annual Global Impact Conference 2022 brings together visionary business leaders to revolutionize educational systems and inspire collaborative actionRead more APO Group announces content partnership with Pan-African broadcaster VoxAfricaRead more MainOne, an Equinix Company’s MDXi Appolonia Achieves Tier III Constructed Facility certification (TCCF), Now Most Certified Data Center in GhanaRead more United Nations High Commissioner for Refugees (UNHCR) warns rising tide of hunger, insecurity, and underfunding worsening gender-based violence risksRead more The Royal Thai Embassy presents the cultures of Thailand at the Association of Southeast Asian Nations (ASEAN) Festival in KenyaRead more Climate change is the biggest global threat, young people in Africa and Europe tell European Investment Bank (EIB), Debating Africa and Debating EuropeRead more $2 million in prizes awarded at Conference of the Parties (COP27) to African youth-led businessesRead more Africa and Europe’s top business and public sector leaders gather to chart Africa’s economic rebirthRead more The Thai delegation’s active participation at the 145th Assembly of the Inter-Parliamentary Union (IPU) in KigaliRead more Canon shares winning image of its Redline Challenge competition 2022Read more

US unemployment filings reach new pandemic low

show caption
As Covid-19 vaccines help the economy reopen, new jobless filings have reached a fresh pandemic low./AFP
Print Friendly and PDF

May 28, 2021 - 09:58 AM

WASHINGTON — New filings for US unemployment benefits slid lower for a fourth straight week, reaching a new pandemic low as Covid-19 vaccines help the economy rebound, the government said Thursday.

The Labor Department said 406,000 new seasonally adjusted claims for jobless benefits were made last week, 38,000 fewer than the previous week’s unrevised total and fewer than analysts had expected.

The report brings the closely watched indicator of labor market strength closer to the pre-pandemic level of 256,000 seen on the week of March 14, 2020 — before the spreading coronavirus forced businesses to close and unemployment filings skyrocketed into the millions.

The data also said the insured unemployment rate, indicating workers receiving benefits, ticked down slightly to 2.6 percent, with more than 3.6 million people receiving regular aid as of the week ended May 15.

However that was 96,000 fewer than the week before, the biggest one-week drop since March.

“While the recovery in the labor market may be uneven at times, the declines in both initial and continuing claims are a clear sign that progress is ongoing,” Nancy Vanden Houten of Oxford Economics said.

The data showed another 93,546 people, not seasonally adjusted, made new claims last week for Pandemic Unemployment Assistance, which gives aid to freelancers who are not normally eligible, slightly less than the week prior.

Despite the improvements, more than 15.8 million people were receiving benefits under all programs as of the week ended May 8, a reminder of that unemployment remains widespread.

  • bio
  • twitter
  • facebook
  • latest posts

MAORANDCITIES.COM uses both Facebook and Disqus comment systems to make it easier for you to contribute. We encourage all readers to share their views on our articles and blog posts. All comments should be relevant to the topic. By posting, you agree to our Privacy Policy. We are committed to maintaining a lively but civil forum for discussion, so we ask you to avoid personal attacks, name-calling, foul language or other inappropriate behavior. Please keep your comments relevant and respectful. By leaving the ‘Post to Facebook’ box selected – when using Facebook comment system – your comment will be published to your Facebook profile in addition to the space below. If you encounter a comment that is abusive, click the “X” in the upper right corner of the Facebook comment box to report spam or abuse. You can also email us.