Before the pandemic nearly stopped economic activity in March 2020, weekly applications were regularly below 220,000.
Washington — The number of Americans applying for unemployment benefits has declined for the sixth straight week as the US economy resumed rapidly after being suppressed by a coronavirus pandemic for several months.
The Ministry of Labor reported Thursday that unemployed claims fell from 385,000 last week to 9,000 to 376,000. The number of people enrolled in benefits exceeded 900,000 in early January and has declined more or less steadily since then. Still, the claim is high by historical standards. Before the pandemic nearly stopped economic activity in March 2020, weekly applications were regularly below 220,000.
Nearly 3.5 million people received traditional state unemployment benefits during the week of May 29, down 258,000 from 3.8 million last week.
Vaccine deployments have allowed Americans to return to restaurants, bars and shops to feel more comfortable, and business is resuming rapidly. The Ministry of Labor reported on Tuesday that job vacancies reached a record high of 9.3 million in April. Layoffs fell to 1.4 million, the lowest record dating back to 2000. 4 million people quit their jobs in April. This is another record, showing that we are confident enough to try new things.
New jobs in the US economy in May were 559 million, and the unemployment rate fell from 6.1% in April to 5.8%. Many economists expect even faster employment growth. As of February 2020, the United States still lacks 7.6 million jobs.
However, employers are posting vacant seats faster than applicants can fill them. Many Americans are struggling with health and childcare issues associated with COVID-19, and career uncertainty after the coronavirus recession has permanently wiped out many jobs. Some people are spending more time looking for a job because the increased federal unemployment benefits pay more than their previous jobs.
How many people asked for unemployment last week?
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