US jobless claims rise by 28,000, but still low at 222,000 | The Daily Reporter – Milwaukee, Wisconsin

Date:

Milwaukee, Wisconsin 2021-12-02 09:41:00 –

On November 13th, a holiday recruitment sign will appear at a retail store in Vernon Hills, Illinois. The number of Americans applying for unemployment benefits has dropped to 268,000 for the seventh straight week. (AP photo / Nam Y. Huh)

Paul Wiseman
AP Economics Writer

Washington (AP) — The number of Americans applying for unemployment benefits increased last week, despite the recovery of the US employment market from last year’s coronavirus recession.

The Ministry of Labor reported Thursday that unemployed claims rose from 194,000, the lowest in 52 years last week, to 222,000. The four-week average of weekly ups and downs smoothing claims was below the pandemic minimum of 239,000.

Since exceeding 900,000 in early January, weekly applications that replace layoffs have been steadily declining more or less.

Overall, 2 million Americans received traditional unemployment benefits during the week ending November 20th. The number has decreased by 107,000 from the previous week.

Until September 6, the federal government paid an additional $ 300 a week to complement the state’s unemployment insurance program, providing benefits to gig workers and those who have been unemployed for more than six months. The number of Americans receiving some form of unemployment assistance, including federal programs, peaked at more than 33 million in June 2020.

The employment market has recovered strongly since the spring of 2020, when the coronavirus pandemic closed or shortened business hours and left many Americans at home as a health precaution. In March and April of last year, employers cut more than 22 million jobs.

But the combination of government bailout checks, ultra-low interest rates, and vaccine deployments have given consumers the confidence and financial leeway to start spending again. Employers struggling to meet the unexpected surge in demand have hired 18 million new hires since April 2020, with an additional 535,000 added in November in Friday’s employment report. It is expected to be shown. Still, the United States is short of 4 million jobs in February 2020.

Companies are currently complaining that they can’t find workers to fill the job, reaching a record high of 10.4 million in September. Workers have become more selective about their jobs, noticing that they have the influence of negotiations for the first time in decades. A record 4.4 million people quit in September. This shows that they are confident in their ability to find better things.

Still, economists warn that its highly contagious variant of Omicron can disrupt economic recovery.

Rubyla Falluki, Chief US Economist in High Frequency Economics, said: “Our basic case was that the supply (of workers) would gradually return as the cushion from savings diminished. But new health concerns are that people will be in the coming months. It’s a downside risk that can prevent you from returning to the workforce. “

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