712,000 Americans Filed First-Time Jobless Claims Last Week
According to a report released by the Labor Department on Thursday, 712,000 more Americans claimed first-time jobless benefits over the last week, a decrease of 42,000 from the previous week and the lowest total since early November.
With a decline in confirmed coronavirus cases, the passage of Biden's Covid-19 Relief Bill and a job market that has been slowly strengthening, economists are hopeful that this is a sign of an improving economy.
Continued jobless claims dropped to 4.1 million (down 300,000 from the previous week), however, claims for programs for people no longer eligible for regular state unemployment claims, such as the Pandemic Emergency Unemployment Compensation program, continue to be high.
Economists are hopeful that the vaccine rollout and President Biden's $1.9 Trillion Covid-19 Relief Bill will help steady the economic recovery.
Photo Source: Pixabay