The numbers: Just 293,000 people who recently lost their jobs applied for unemployment benefits in mid-October, pushing new U.S. jobless claims to a pandemic low amid a frantic effort by companies to hire more workers.
The number of people already collecting state jobless benefits, meanwhile, fell by 134,000 to 2.59 million. These so-called continuing claims are at a pandemic low. Big picture: One of the biggest headaches for businesses right now is finding enough people to hire. They are laying off very few people because of a labor shortage that is hurting production and thwarting the economic recovery.
About 1.01 million applications for jobless benefits have been filed through the already expired federal program. Some of those claims likely reflect weeks of work missed before the federal program expired, but it’s unclear how many will be paid out.
BS. Figures don't account for all those who are not employed. This is just spin.
Thanks, Joe Biden!
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tight Labor Market Keeping Jobless Claims in CheckJobless claims declined to 293,000 last week, the first time they fell below 300,000 since the pandemic began This number means nothing because it doesn’t include jobless with exhausted claim status, and former numbers include claimants who now choose to not work. No more enhanced unemployment benefits. Have to get back to work.
Source: WSJ - 🏆 98. / 63 Read more »
Inflation Remained High in SeptemberThe consumer-price index accelerated slightly in September, rising 5.4% from a year before as pandemic-related shortages of labor and materials continued to push up prices. “Slightly” coming in at 5% ? “Slightly”? High inflation is Biden's blatant taxes thanks to his economic mismanagement. Come to think about it, Biden achieves failure in every aspects of his presidency. What a waste of taxpayers' money paid to nourish decades of his political gigs!
Source: WSJ - 🏆 98. / 63 Read more »
Delta posts a first pandemic profit, but investors are worrying about rising costs and signs of a weak Q4Delta posted its first adjusted profit since the start of the pandemic, and one that was double what Wall Street expected. But investors are worried about the rising costs of fuel, wages, and maintenance. Investors should be worried how bad flying sucks.
Source: MarketWatch - 🏆 3. / 97 Read more »
Neoliberalism Died of COVID. Long Live Neoliberalism!How the predominant ideology of our time survived the pandemic, by EricLevitz
Source: NYMag - 🏆 111. / 63 Read more »
US unemployment claims fall to lowest level since pandemicWASHINGTON (AP) — The number of Americans applying for unemployment benefits fell to its lowest level since the pandemic began, a sign the job market is still improving even as hiring has slowed in the past two months. Or people aren’t counted anymore Because they dropped out of the work force. Wait! Yesterday they said September more people quit their jobs than ever.
Source: AP - 🏆 728. / 51 Read more »
PC Makers Banking on a New NormalDell and HP see the adoption of hybrid work arrangements widening the market for computers and related hardware and industry analysts agree that long-term sales are unlikely to slip back to pre-pandemic levels.
Source: WSJ - 🏆 98. / 63 Read more »