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The number of U.S. applications for unemployment benefits rose slightly as federal aid recharges gradually decreased. Unemployment news

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Data released by the US Department of Labor on Thursday showed that as of the week of August 21, the number of initial jobless claims in regular states was 353,000, an increase of 4,000 from the previous week.

go through Bloomberg

As the labor market recovers on an intermittent basis, unemployment claims in every U.S. state have risen for the first time in five weeks.

Data released by the US Department of Labor on Thursday showed that as of the week of August 21, the number of initial jobless claims in regular states totaled 353,000, an increase of 4,000 from the previous week, but it was still close to the pandemic low. The median estimate of a survey of economists conducted by Bloomberg requires a slight increase in the number of new applicants to 350,000.

In the week ending August 14, the number of people who continued to apply for state benefits dropped slightly to 2.9 million.

The increase in unemployment benefits may reflect weekly data fluctuations in the context of increasing labor demand. The delta variant, which has recently caused a surge of new infections across the country, poses a risk, although so far there is little evidence that health issues have led to dismissals.

Nevertheless, legislators remain cautious about the threat this highly contagious variant poses to the broader economic recovery.

The company is delaying returning to the office and issuing mask requirements and vaccine requirements to curb the spread. The Biden administration emphasized the need to reopen the economy, but warned that companies need to protect workers and consumers.

Another report released on Thursday showed that US economic growth in the second quarter was slightly revised upwards, reflecting that business investment and exports were stronger than previously estimated.

Last week, initial jobless claims fell the most in Michigan, Texas, and Virginia. Maryland saw the largest increase, followed by California and Illinois.

More than 20 governors prematurely terminated the federal unemployment plan implemented during the pandemic — including paying an additional $300 a week — hoping that the cancellation of the added benefits would encourage workers to find work.

Lawsuits in some of these states challenge the governor’s legal power to terminate aid and may restore suspended benefits until they officially expire in early September.

Although the White House said it would not further expand unemployment assistance, it did inform states last week that it can use unused pandemic relief funds to continue to provide assistance to unemployed workers.



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