Jobless Claims Fall to 340,000, , Still 2.75 Million Unemployed Americans.
On September 2, the Labor Department reported that initial filings for unemployment insurance fell last week to their lowest levels since March 2020.
On September 2, the Labor Department reported that initial filings for unemployment insurance fell last week to their lowest levels since March 2020.
For the week ending August 28,
first-time jobless claims totaled 340,000.
CNBC reports that is the lowest level for initial claims since March 14, 2020, when first-time claims totaled 256,000.
The level of continuing claims, or those
already unemployed, was 2.75 million.
That number is down 160,000 from the previous week’s count and also represents the lowest level for insured unemployment since the pandemic began.
That number is down 160,000 from the previous week’s count and also represents the lowest level for insured unemployment since the pandemic began.
Economists have noted that federal unemployment
benefits are scheduled to expire September 6, Labor Day.
CNBC points out that parents may be able
to finally return to the office with public schools
starting to open across the U.S.
CNBC points out that parents may be able
to finally return to the office with public schools
starting to open across the U.S.
Bottom line, we now have the lowest
initial filings for claims and smallest level
of continuing claims since everything
changed in March last year, Peter Boockvar, Chief investment officer
at Bleakley Advisory Group,
via CNBC.
Just listen to any company that is looking to expand and you’ll hear stories about the difficulty in finding positions so it makes sense that claims continue to decline, Peter Boockvar, Chief investment officer
at Bleakley Advisory Group,
via CNBC.
The jobless claims data comes one day ahead of
the Labor Department’s monthly jobs report.
CNBC reports that the Federal Reserve uses that
report as a gauge to determine its monetary policy.
CNBC reports that the Federal Reserve uses that
report as a gauge to determine its monetary policy