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Unemployment at the lowest level of pandemic

This week’s complaint decline was second in weeks.

Washington — The number of Americans applying for unemployment benefits has fallen to the lowest level since the pandemic began. Despite the slowdown in employment in the last two months, the employment market is still a sign of improvement.

According to the Ministry of Labor, unemployment allowance fell from 36,000 to 293,000 last week, the second consecutive year of decline. This is the lowest number of people applying for benefits since March 2020, when the pandemic intensified. Unemployment aid applications, which generally track the pace of furloughs, have been steadily declining since last spring, as many companies struggling to fill their jobs retain their workers. ..

employment Slowed down in the last two monthsEven if a company or other employer posts a record number of recruiting jobs. Companies are struggling to find workers as about 3 million people who have lost their jobs and stopped looking for jobs because the pandemic has not yet resumed searching for jobs. Economists hoped more people would find a job in September as schools were reopened, childcare restrictions were eased and unemployment assistance was strengthened nationwide.

But the pickup didn’t happen. Employer adding only 194,000 jobs last month. On the bright side, the unemployment rate fell from 5.2% to 4.8%, partly because many unemployed people stopped looking for jobs and were no longer counted as unemployed. ..

At the same time, Americans I quit my job with a record number, About 3% of workers do so in August. Workers were particularly likely to quit their jobs in restaurants, bars and hotels, perhaps driven by fear of the still rapidly expanding delta variant of COVID-19 in August.

Other workers may stop taking advantage of the higher wages offered by companies that cannot find employment, or quit their jobs because it was difficult to find childcare for children who were too young to go to school. I have.

Unemployment at the lowest level of pandemic

Source link Unemployment at the lowest level of pandemic

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