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Tags: Coronavirus | Financial Markets | Infrastructure | Money | Vaccines | u.s. unemployment figures | jobs numbers

Uptick in New US Unemployment Benefit Claims Slows

NYC straphangers
Millions of Americans, including these New Yorkers, are getting off the unemployment line and back to work. (Dreamstime)

Thursday, 30 September 2021 09:22 AM

New claims for U.S. unemployment benefits increased for the third straight week, but the rate of the uptick appears to be slowing, according to government data released Thursday.

Initial applications for jobless benefits made in the week ended Sept. 25 rose to 362,000, seasonally adjusted, up 11,000 from the previous week's unrevised level, the Labor Department reported. The figures once again defied expectations for a decline.

Another 16,752 new claims, not seasonally adjusted, were made under the Pandemic Unemployment Assistance (PUA) program for freelancers not normally eligible for aid. Those claims likely represented a backlog since the program expired earlier in the month.

Claims are a closely-watched metric of labor market health, and shot into the millions when the pandemic broke out in the United States in March 2020. They have been on a sustained decline in recent months, though have yet to return to their level before the pandemic.

However, the past three weeks has seen initial claims edge up, perhaps as the fast-spreading delta variant of COVID-19 complicates business plans to reopen, but the most recent week's increase was slower than the weeks prior.

The report also showed the impact of the end of the pandemic unemployment programs like PUA, which expired on Sept. 6 nationwide.

The total number of people receiving benefits under all programs fell to just over 5 million in the week ended Sept. 11, a drop of more than 6.2 million since the programs ended.

© AFP 2022


StreetTalk
New claims for U.S. unemployment benefits increased for the third straight week, but the rate of the uptick appears to be slowing, according to government data released Thursday.
u.s. unemployment figures, jobs numbers, covid-19 economic recovery
241
2021-22-30
Thursday, 30 September 2021 09:22 AM
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