Share
WASHINGTON — 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.
Job Vacancies Posted Faster Than Applicants Can Fill Them
“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.
RELATED TOPICS:
Clovis CPA Sentenced to Prison for $800K Bank Fraud Scheme
8 hours ago
His Gang Name Is ‘Goer.’ Now Fresno County Man Is Going to Prison for 20 Years
8 hours ago
Missing Woman Found Dead in Fresno County Canal Identified
8 hours ago
Co-Conspirator Sentenced in Fraud Involving Loans to Bitwise
9 hours ago
Valley Crime Stoppers’ Most Wanted Person of the Day: Stephanie Marie Zamarripa
9 hours ago
Why Trump Is Mad at ‘Sleazebag’ Leonard Leo
9 hours ago
Madera County Authorities Seek Public’s Help Locating Missing At-Risk Man
10 hours ago
Campbell’s Co. Says Sales Rise as More Americans Cook at Home
10 hours ago
‘King of the Hill’ Voice Actor Jonathan Joss Fatally Shot Outside His Texas Home
7 hours ago
Categories

‘King of the Hill’ Voice Actor Jonathan Joss Fatally Shot Outside His Texas Home

Not Quite ‘Hunger Games,’ but Fresno Budget Hearings Start

Clovis CPA Sentenced to Prison for $800K Bank Fraud Scheme

His Gang Name Is ‘Goer.’ Now Fresno County Man Is Going to Prison for 20 Years

Missing Woman Found Dead in Fresno County Canal Identified

Co-Conspirator Sentenced in Fraud Involving Loans to Bitwise

Valley Crime Stoppers’ Most Wanted Person of the Day: Stephanie Marie Zamarripa
