sunny.png
Friday June 18th, 2021 1:55PM

US unemployment claims fall to 376,000, sixth straight drop

By The Associated Press
Related Articles
  Contact Editor

WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell for the sixth straight week as the U.S. economy, held back for months by the coronavirus pandemic, reopens rapidly.

Jobless claims fell by 9,000 to 376,000 from 385,000 the week before, the Labor Department reported Thursday. The number of people signing up for benefits exceeded 900,000 in early January and has fallen more or less steadily ever since. Still, claims are high by historic standards. Before the pandemic brought economic activity to a near-standstill in March 2020, weekly applications were regularly coming in below 220,000.

Nearly 3.5 million people were receiving traditional state unemployment benefits the week of May 29, down by 258,000 from 3.8 million the week before.

Businesses are reopening rapidly as the rollout of vaccines allows Americans to feel more comfortable returning to restaurants, bars and shops. The Labor Department reported Tuesday that job openings hit a record 9.3 million in April. Layoffs dropped to 1.4 million, lowest in records dating back to 2000; 4 million quit their jobs in April, another record and a sign that they are confident enough in their prospects to try something new.

“As life normalizes and the service sector continues to gain momentum, we expect initial jobless claims to continue to trend lower,″ said Joshua Shapiro, chief U.S. economist at the economic and financial consulting firm Maria Fiorini Ramirez, Inc.

In May, the U.S. economy generated 559,000 million new jobs, and the unemployment rate dropped to 5.8% from 6.1% in April. Many economists expected to see even faster job growth. The United States is still short 7.6 million jobs from where it stood in February 2020.

But employers are posting vacancies faster than would-be applicants can fill them. Many Americans are contending with health and childcare issues related to COVID-19 and with career uncertainty after the coronavirus recession wiped out many jobs for good. Some are taking their time looking for work because expanded federal jobless benefits pay more than their old jobs.

Many states are scheduled to begin dropping the federal benefits this month. Altogether, 15.3 million people were receiving some type of jobless aid the week of May 22; a year earlier, the number exceeded 30 million.

  • Associated Categories: Homepage, Local/State News, Associated Press (AP), AP National News, AP Online National News, Top General short headlines, AP Business, AP Business - Economy
© Copyright 2021 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Greek unions strike, seek return to pre-pandemic work rules
Widespread strikes in Greece have brought public transport and other services to a halt as the country’s largest labor unions protested employment reforms they argue will make flexible workplace changes introduced during the pandemic more permanent
8:47AM ( 11 minutes ago )
Celebrations (with caveats) greet US vaccine donation plan
Health officials and experts around the world are welcoming a U.S. plan to donate 500 million more COVID-19 vaccines to developing countries
8:38AM ( 19 minutes ago )
US unemployment claims fall to 376,000, sixth straight drop
The number of Americans applying for unemployment benefits fell for the sixth straight week as the U.S. economy reopens rapidly after being held back for months by the coronavirus pandemic
8:37AM ( 20 minutes ago )
Associated Press (AP)
China says US revoking of China apps ban a 'positive step'
China’s Ministry of Commerce has said a U_S_ move to revoke Trump administration’s executive orders intended to ban apps like TikTok and WeChat was a “positive step.”
8:07AM ( 50 minutes ago )
Germany starts rolling out a digital EU vaccination pass
Germany has started rolling out a digital vaccination pass that can be used across Europe as the continent gears up for the key summer travel season
8:01AM ( 57 minutes ago )
Poll: Millions in US struggle through life with few to trust
Millions of Americans are struggling through life with few people they can trust for personal and professional help, a disconnect that raises a barrier to recovery from the social, emotional and economic fallout of the coronavirus pandemic
8:00AM ( 57 minutes ago )
AP Business
EU vows a firm response as Brexit tensions rise anew
Top European Union officials are vowing to use all measures available to ensure that the United Kingdom respects the terms of its Brexit agreement as tensions rise again over trade involving Northern Ireland
5:44AM ( 3 hours ago )
World shares mixed as investors await US price data, G7
Global markets are mixed as investors await key U.S. inflation data and a gathering of the leaders of the Group of Seven major economies
5:25AM ( 3 hours ago )
Asian shares advance as investors await US inflation data
Asian shares are higher after Wall Street logged modest losses, as investors await key U.S. inflation data
3:05AM ( 5 hours ago )
AP Business - Economy
Greek unions strike, seek return to pre-pandemic work rules
Widespread strikes in Greece have brought public transport and other services to a halt as the country’s largest labor unions protested employment reforms they argue will make flexible workplace changes introduced during the pandemic more permanent
8:47AM ( 11 minutes ago )
Celebrations (with caveats) greet US vaccine donation plan
Health officials and experts around the world are welcoming a U.S. plan to donate 500 million more COVID-19 vaccines to developing countries
8:38AM ( 20 minutes ago )
Penn State ex-president reports to jail in Sandusky scandal
Former Penn State president Graham Spanier has reported to jail early to begin serving his sentence for child endangerment in a case stemming from the Jerry Sandusky child sexual abuse scandal
8:35AM ( 23 minutes ago )
Biden, Johnson to stress close ties, manage differences
Their nations may have a famed “special relationship,” but President Joe Biden and British Prime Minister Boris Johnson will meet for the first time Thursday against a backdrop of differences both political and personal
8:33AM ( 25 minutes ago )
The Latest: Bidens to have Sunday tea with the queen
President Joe Biden will be welcomed with a military Guard of Honor and afternoon tea with Queen Elizabeth II at Windsor Castle when he meets the monarch on Sunday
8:27AM ( 30 minutes ago )