Unemployment claims fall to new pandemic low in last week of improved benefits

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Last week, 310,000 Americans filed for unemployment benefits, adjusted for seasonal fluctuations, the Labor Department reported Thursday.

In addition, 96,198 workers – a figure that is not seasonally adjusted – have filed claims under the Pandemic Unemployment Assistance Program, which provides benefits to those who are not eligible for regular public assistance, such as the self-employed.

For millions of unemployed, this means more emergency aid.

“Today’s unemployment report further shows how short-sighted the elimination of unemployment assistance in the event of a pandemic is,” said Andrew Stettner, senior researcher at left-wing think tank The Century Foundation. “The unemployed face a tsunami of hardship and suffering that simply did not need to happen.”

The effect that reduced benefits might have on the labor market is still debated. Past setbacks in some states have not resulted in significant changes in the employment situation.

In total, nearly 12 million Americans were receiving benefits under various government programs during the week ending August 21.

“In the coming weeks, the dynamic of seasonal hiring and the end of federal assistance in the event of an unemployment pandemic should have an effect on initial claims for unemployment benefits and on the total number of people receiving unemployment benefits. a form of unemployment insurance, ”said Joe Brusuelas, chief economist of RSM.

The employment situation in the United States has improved significantly since the start of the pandemic recovery, but the country still remains more than 5 million jobs below February 2020 levels.

The August monthly jobs report, released on September 3, was a major disappointment to expectations as the more contagious Delta variant continues to leave its mark on the economic recovery.

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