What Happened:

• According to a report released by the Labor Department on Thursday, an additional 709,000 Americans claimed first-time jobless benefits last week.

• Although that is down from the previous week, economists are concerned that America's job recovery is slowing down.

• Continued jobless claims lowered to 6.8 million, down by around half a million from the previous week.

• Although the numbers are lowering, economists are concerned that the numbers might be going down for the wrong reason. States will typically provide jobless benefits for about 26 weeks. After this period, if someone continues to be unemployed they would enroll in other programs, such as the Pandemic Emergency Unemployment Compensation program. The number of people enrolled in the PEUC has been going up every week and is now up to 4.1 million.

Photo Source: Pixabay

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