US Jobless Claims Drop to 385,000, Another Pandemic Low

Contact Your Elected Officials
The Epoch Times

WASHINGTON—The number of Americans seeking unemployment benefits fell last week for a fifth straight week to a new pandemic low, the latest evidence that the U.S. job market is regaining its health as the economy further reopens.

The Labor Department said Thursday that jobless claims dropped to 385,000, down 20,000 from the week before. The number of weekly applications for unemployment aid, which generally reflects the pace of layoffs, has fallen steadily all year, though it remains high by historical standards.

The decline in applications reflects a swift rebound in economic growth and the job market’s steady recovery from the coronavirus recession. More Americans are venturing out to shop, travel, dine out, and congregate at entertainment venues. All that renewed spending has led companies to seek new workers.

Employers have added 1.8 million jobs this year—an average of more than 450,000 a month—and the government’s May jobs report on Friday is expected to show that they added an additional 656,000 last month, according to a survey of economists by the data firm FactSet. The economy remains down 8.2 million jobs from its level in February 2020, just before the virus-related lockdowns tore through the economy.

Yet U.S. employers are posting a record number of available jobs. And many of them have complained that they can’t find enough workers to meet rising customer demand.

Job growth slowed sharply in April compared with March, a pullback that was widely attributed to a labor shortage in some industries, especially at restaurants and other employers in the hospitality sector.

At least 25 states have responded by announcing plans to cut off some emergency federal aid to the unemployed—including a $300-a-week federal benefit—as early as next week. Critics argue that the extra federal unemployment aid, on top of regular state jobless benefits, discourages some of the jobless from seeking work.

By Paul Wiseman of THE ASSOCIATED PRESS

Read Full Article on TheEpochTimes.com

The Thinking Conservative
The Thinking Conservativehttps://www.thethinkingconservative.com/
The goal of THE THINKING CONSERVATIVE is to help us educate ourselves on conservative topics of importance to our freedom and our pursuit of happiness. We do this by sharing conservative opinions on all kinds of subjects, from all types of people, and all kinds of media, in a way that will challenge our perceptions and help us to make educated choices.

Katie Porter Syndrome: Toxic Feminism 101

“Katie Porter Syndrome” is a pathology inflicted upon Congressional staffers, the media, and, if the patient gets herself elected governor, all of CA.

The Unique European Social Contract: Effectiveness Over Values

American conservatives often ground their political stances on social issues. The European conversation centers on an effectiveness assessment.

Trump’s Middle East Triumph is Worth Celebrating Even As Peace Remains Elusive 

President Trump’s bold foreign policy defies globalist appeasement, showcasing unwavering American strength and decisive leadership on the world stage.

Are conservatives fighting a fiction of woke?

Wokery, it hurts to say it, is too disorganized to have an organized cosmology or doctrine of metaphysical belief.

Illinois Democrat Offenders Reveal Party

The crime of J.B Pritzker and Brandon Johnson in this episode of American history is called subversion at the least , but could be as serious as treason.

Katie Porter Syndrome: Toxic Feminism 101

“Katie Porter Syndrome” is a pathology inflicted upon Congressional staffers, the media, and, if the patient gets herself elected governor, all of CA.

Biden Undergoing Radiation, Hormone Treatment for Prostate Cancer

Former President Biden has begun receiving a combination of radiation and hormone treatments for prostate cancer, spokesperson announced.

Gaza Citizens Begin Returning Home Amid Cease-Fire

Palestinians began returning to their homes on Oct. 11 as the cease-fire between Israel and terror group Hamas got underway.

Homan Says DOJ Probing Funding Behind ‘Organized’ Attacks on ICE

Border czar, Homan said DOJ launched an investigation into funding for what he called “organized” attacks on federal immigration enforcement agents.

First Lady’s Effort Helped Reunite 8 War-Displaced Children With Their Families

First lady Melania Trump said 8 children impacted by the fighting between Ukraine and Russia were reunited with their families on Oct. 9.

Trump Admin Agrees to $20 Billion Rescue Plan for Argentina

The U.S. government has finalized a $20 billion economic rescue plan for Argentina, Treasury Secretary Scott Bessent announced on Oct. 9.

Trump Says He May Invoke Insurrection Act in Portland If Necessary

President Donald Trump on Oct. 6 said he may consider invoking the Insurrection Act in Portland, Oregon, if necessary.

Trump: All Medium, Heavy Duty Trucks Entering US Will See 25 Percent Tariff on Nov. 1

President Trump announced on Monday that all medium and heavy-duty trucks entering the United States will see a 25 percent tariff starting on Nov. 1.
spot_img

Related Articles

Popular Categories

MAGA Business Central