Unemployment claims in the United States hit new lows as labor markets recover

Washington DC: Last week in the United States, with signs of a recovery in the labor market, jobless claims fell to their lowest level in 16 months, but labor shortages and Supply chain problems have caused the growth of the manufacturing sector. Continued to tighten.

According to the US Department of Labor, first jobless claims for the week ending July 10 fell from 26,000 to 360,000 seasonally adjusted, according to Reuters.

Allegations last week marked the lowest level since a pandemic hit the United States in mid-March 2020.

Meanwhile, the continuation of unemployment benefits, reported a week late, fell from 126,000 to 32.41 million in the week ending July 3.

Texas and Georgia contributed the most to further bill reduction.

“Claims from these two states, whose top-up benefits ended on June 26, have fallen to their lowest level since March 2020, and early termination of benefits could cause some people to return to work. “Suggest,” said US official Nancy Vanden Horten. As quoted by Reuters, an economist from Oxford Economics in New York.

At least 20 states, led by the Republican governor, have ended a federally funded unemployment program after receiving complaints from companies encouraging the unemployed to stay at home.

In May, vacancies hit a record 9.2 million, indicating a significant labor shortage. At the same time, the number of officially unemployed people reached 9.5 million in June.

This gap is attributed to the lack of affordable child care, career and retirement changes linked to the pandemic, and fear of becoming infected with COVID-19.

Labor shortages are also affecting the manufacturing sector, which is struggling to meet strong demand for goods and services. It is an imbalance that fuels inflation.

“The problem continues to be the supply of input parts and undersupplied skilled workers, but there is evidence that traffic jams are starting to crumble,” said Tim Quinnlan, senior economist at Wells Fargo in Charlotte. , North Carolina. Mentionned.

Unemployment claims in the United States hit new lows as labor markets recover

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