U.S. unemployment claims dipped again last week by 14,000 to 385,000 but the country is still 6.8 million jobs short compared to February 2020 before the COVID-19 pandemic hit in March of last year, the Associated Press reported.
Although COVID-19 cases are on the rise with the spread of the Delta variant, Contingent Macro Advisors wrote in a research note that"the surge in COVID cases related to the Delta variant is unlikely to cause a renewed spike in joblessness as there have been few shutdowns so far.''For more reporting from the Associated Press, see below.
Companies are posting job openings — a record 9.2 million in May — faster than applicants are showing up to fill them. Many states have responded to business complaints of a labor shortage by ending expanded federal unemployment benefits meant to ease financial strains from the health crisis, including an extra $300 a week on top of traditional state benefits. The federal benefits are scheduled to expire nationwide on September 6.
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