US Jobless Claims Dip to 385,000
Summary from the AllSides News Team
On Thursday, the Labor Department reported that jobless claims dropped to 385,000 last week. This is the first time during the pandemic that the number has dipped below 400,000.
As COVID-19 vaccination rates increase and public health restrictions are relaxed, initial unemployment claims have fallen.
Featured Coverage of this Story
From the Center
Jobless Claims Drop to Another Pandemic Low
Worker filings for initial jobless claims have dropped by 35% since late April, slipping below 400,000 last week for the first time since the pandemic started.
Weekly unemployment claims, a proxy for layoffs, fell to 385,000 last week from a revised 405,000 the prior week, the Labor Department said on Thursday. Last week’s decline in claims marked the fifth straight week that new filings fell, from 590,000 in late April, adding to signs of a healing labor market as the U.S. economy ramps up.
Economists separately expect that the May employment report,...
From the Right
Jobless Claims Drop to 385,000, A Post-Pandemic Low
New jobless claims dropped 20,000 to 385,000 for the week ended May 29, the Department of Labor said Thursday.
Economists had expected claims to fall to 400,000 from last week’s lower-than-expected 406,000. Last week’s figure was revised down by 1,000 to 405,000.
Continuing claims for unemployment claims during the week ending May 22 was 3,771,000, an increase of 169,000 from the previous week’s revised level, which was a record low for the post-pandemic period.
Claims can be volatile week to week so economists like to look to the four-week moving...
From the Left
U.S. Jobless Claims Dip Below 400,000 for First Time in Pandemic
Applications for U.S. state unemployment insurance dipped below 400,000 for the first time during the pandemic as hiring accelerates and the economy strengthens heading into the summer months.
Initial claims in regular state programs decreased by 20,000 to 385,000 in the week ended May 29, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for 387,000 applications. The prior week’s reading was revised down to 405,000.
The labor market continues to gain steam as remaining pandemic restrictions are eased and more fully-vaccinated Americans look...
AllSides Picks
July 25th, 2024
July 25th, 2024
More News about Economy and Jobs from the Left, Center and Right
From the Left
From the Center
From the Right
