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Unemployment claims fall below 400,000 for the first time during the pandemic

U.S. first-time jobless claims fall below 400,000 for first time in pandemic era

6/3/2021 3:45:00 PM

U.S. first-time jobless claims fall below 400,000 for first time in pandemic era

Coronavirus cases are falling fast and so are the number of people losing jobs: New applications for regular unemployment benefits fell below 400,000 in late...

Initial jobless claims dropped by 20,000 to 385,000 in the week ended May 29, the government said Thursday. It was the fifth decline in a row.Economists surveyed by Dow Jones and The Wall Street Journal had forecast new claims would slip to a seasonally adjusted 393,000.

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The number of people applying for benefits has fallen by more than half since January to coincide with a surge in vaccinations and a steep decline in coronavirus cases.New unemployment claims are still almost twice as high as they were before the pandemic, however. New applications had been running in the low 200,000s before the viral outbreak in early 2020.

Read: Why aren’t Americans happier about the economy? They are paying higher prices for almost everythingBig picture: The fading pandemic has allowed most businesses to fully reopen, giving another boost to a U.S. economic recovery that had been turbocharged by massive federal stimulus payments. headtopics.com

One of the biggest problems many companies face right now is filling a record number of open jobs to meet a surge in pentup demand as Americans get out and about again. An acute labor shortage, in turn, has made firms very reluctant to let go of any workers.

Read: Hiring signs are everywhere, but Wall Street isn’t betting on huge job gains in MayNearly half of the states plan to cut off a $300 federal unemployment stipend owing to complaints the emergency benefits are discouraging people from taking jobs. It won’t be known until late June or early July if reduced benefits induce more people to find work.

Read: U.S. inflation hasn’t been this high since 2008Note to readers: A government review found the number of distinct individuals collecting benefits has been inflated by fraud and double counting. Widespread fraud has also resulted in tens of billions of dollars in improper payments, a Labor Department review estimated.

Read more: MarketWatch »

Progress 77 and Pirs Undocked from Station

The unpiloted Russian Progress 77 cargo spacecraft undocked from the International Space Station while attached to the Pirs docking compartment at 6:55 a.m. EDT.

Jobless Claims Drop to Another Pandemic LowJobless claims have declined by more than 30% since late April, slipping below 400,000 last week for the first time since the pandemic. thanks For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to him Blakescott64 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success posso usar esse espaço?

Couple Who Met During Pandemic Tenderly Remove Each Other’s Mask Straps For First TimeSEATTLE—Their yearning almost palpable as the long wait ended and they finally surrendered to their desires, local couple Duncan Kirk and Maria Solis, who met during the pandemic, tenderly removed each other’s mask straps for the first time Tuesday. According to sources, the newly vaccinated pair approached each other carefully, at long last breaching the 6-foot distance they had maintained for the entirety of their 13-month relationship. Solis reportedly appeared nervous as she lifted her trembling fingers toward her lover’s mask and fumbled with the ear loops, but soon she had loosened the plastic sizing device and was gently—so very, very gently—tugging at the elastic thread. Reports confirmed the excitement then built quickly as, inch by inch, the tight-fitting fabric was peeled down to reveal their naked lower faces. Kirk was heard letting out a soft gasp as he beheld the tip of Solis’s nose for the first time, and sources said the couple soon shook free of their masks completely. After flinging the face coverings aside, the two reportedly stood still for a tantalizing moment, their intense, passionate gazes turning to horror the moment they recognized each other as first cousins. heartwarming and beautiful. I could see this being a hard drive post with a slightly different lede and a picture of Tali, not gonna lie And then their clothes.

Report chronicles missteps by state unemployment agencies that left millions in the lurchLabor Department watchdog finds that California and other state unemployment systems were unequipped for COVID-related jobless claims . And they're still struggling. Thousands of people stopped receiving benefits in March and have been left in the dark about their pending claims. They've had over a year to improve their systems and have only got worse

How the World Ran Out of EverythingIn the story of how the modern world was constructed, Toyota stands out as the mastermind of a monumental advance in industrial efficiency. The Japanese automaker pioneered so-called Just In Time manufacturing, in which parts are delivered to factories right as they are required, minimizing the need to stockpile them. Over the past half-century, this approach has captivated global business in industries far beyond autos. From fashion to food processing to pharmaceuticals, companies have embraced Just In Time to stay nimble, allowing them to adapt to changing market demands, while cutting costs. But the tumultuous events of the past year have challenged the merits of paring inventories, while reinvigorating concerns that some industries have gone too far, leaving them vulnerable to disruption. As the pandemic has hampered factory operations and sown chaos in global shipping, many economies around the world have been bedeviled by shortages of a vast range of goods — from electronics to lumber to clothing. Sign up for The Morning newsletter from the New York Times In a time of extraordinary upheaval in the global economy, Just In Time is running late. “It’s sort of like supply chain run amok,” said Willy C. Shih, an international trade expert at Harvard Business School. “In a race to get to the lowest cost, I have concentrated my risk. We are at the logical conclusion of all that.” The most prominent manifestation of too much reliance on Just in Time is found in the very industry that invented it: Automakers have been crippled by a shortage of computer chips — vital car components produced mostly in Asia. Without enough chips on hand, auto factories from India to the United States to Brazil have been forced to halt assembly lines. But the breadth and persistence of the shortages reveal the extent to which the Just in Time idea has come to dominate commercial life. This helps explain why Nike and other apparel brands struggle to stock retail outlets with their wares. It

Elon Musk blames rising Tesla prices on raw material costsElon Musk blames Tesla price increases on 'major supply chain price pressure industry-wide.' ClareCNN reports.

Bill Gates vaccine adviser was 'seriously worried' about Fauci's health, emails showDr. Anthony Fauci admitted in correspondence that he was not getting 'much sleep' during the first wave of the COVID-19 pandemic. Look at all the self prclaimed experts on this thread. So Newsweek is the new National Enquire eh?