Header Ads

US unemployment claims rise from 312,000 in July to 332,000 in August after Biden's $300-a-week COVID benefit expired on Labor Day

 The number of Americans seeking unemployment benefits moved up last week to 332,000 from a pandemic low.

Applications for jobless aid rose from 312,000 the week before, the Labor Department said Thursday. Jobless claims, which generally track the pace of layoffs, have fallen steadily for two months as many employers, struggling to fill jobs, have held onto their employees. Two weeks ago, jobless claims reached their lowest level since March 2020.

On September 6, the Biden administration's $300-a-week COVID unemployment payments to seven million Americans officially expired after 18 months.  

Many said it was long overdue, and that the inflated benefits drove a labor shortage because people could make more money doing nothing than they did in certain jobs.  

The end of the payments comes after an abysmal jobs report in August with just 235,000 new jobs added to the economy - 765,000 fewer than the previous month.

Of the unemployment claims in the last week, at least 4,000 were from Louisiana, where Hurricane Ida has led to widespread job losses in that state. Ida will likely nick the economy's growth in the current July-September quarter, though repairs and rebuilding efforts are expected to regain those losses in the coming months.

Still, Ida shut down oil refineries in Louisiana and Mississippi about two weeks ago and left more than 1 million homes and businesses without electricity. But Ida's impact was limited: Applications for jobless aid fell slightly in Mississippi.

A help-wanted sign is displayed at a gas station in Mount Prospect, Ill. The gulf between record job openings and a lack of people taking those jobs is forcing Wall Street to reassess the pace of the economic recovery. The number of Americans seeking unemployment benefits moved up last week to 332,000 from a pandemic low of 312,000 in July

A help-wanted sign is displayed at a gas station in Mount Prospect, Ill. The gulf between record job openings and a lack of people taking those jobs is forcing Wall Street to reassess the pace of the economic recovery. The number of Americans seeking unemployment benefits moved up last week to 332,000 from a pandemic low of 312,000 in July

Amazon wants to hire 125,000 delivery and warehouse workers and said Tuesday, Sept. 14, 2021 that it is paying new hires an average of $18 an hour in a tight job market as more people shop online. Hiring in August plummeted in industries that require face-to-face contact with the public, notably restaurants, hotels and retailers. Still, some jobs were added in other areas, and the unemployment rate actually dropped to 5.2% from 5.4%

Amazon wants to hire 125,000 delivery and warehouse workers and said Tuesday, Sept. 14, 2021 that it is paying new hires an average of $18 an hour in a tight job market as more people shop online. Hiring in August plummeted in industries that require face-to-face contact with the public, notably restaurants, hotels and retailers. Still, some jobs were added in other areas, and the unemployment rate actually dropped to 5.2% from 5.4%

The job market and the broader economy have been slowed in recent weeks by the delta variant, which has discouraged many Americans from traveling, staying in hotels and eating out. Earlier this month, the government reported that employers added just 235,000 jobs in August after having added roughly a million people in both June and July.

Hiring in August plummeted in industries that require face-to-face contact with the public, notably restaurants, hotels and retailers. Still, some jobs were added in other areas, and the unemployment rate actually dropped to 5.2% from 5.4%.


The steady fall in weekly applications for unemployment benefits coincides with a scaling-back of aid for jobless Americans. Last week, more than 8 million people lost all their unemployment benefits with the expiration of two federal programs that covered gig workers and people who have been jobless for more than six months. Those emergency programs were created in March 2020, when the pandemic first tore through the economy.

An additional 2.7 million people who are receiving regular state unemployment aid lost a $300-a-week federal unemployment supplement last week.


1 comment:

  1. So Someone is pretending to be Joe Biden:
    http://82.221.129.208/1/.uc7.html
    http://www.jimstone.is/1/newbidenmask.jpg

    ReplyDelete