Jobless Claims Fall Slightly After Fed’s Powell Says Labor Market Damage Is ‘Dramatically Understated’

  • 📰 Forbes
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 53%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

NEW: Jobless claims higher than what economists were expecting

Another 793,000 Americans filed for regular state unemployment benefits last week—19,000 less than the previous week but higher than the 760,000 new claims economists wereA waiter at Baby Brasa carries a tray of food towards the enclosed outdoor dining structure during aAnother 334,524 people filed claims under the Pandemic Unemployment Assistance program, which extends benefits to self-employed workers, freelancers, and gig workers not eligible for traditional state programs.

Thursday’s initial claims data is the lowest since the beginning of January—a sign that conditions are beginning to improve even as unemployment levels remain well above historical highs. Some of that improvement could be attributable to gradual reopenings across the country as states like California and New York relax stay-at-home orders and other restrictions.

But the progress is extremely slow: last week, the Labor Department reported that the U.S. added justIn a Wednesday speech at the Economic Club of New York, Federal Reserve Chair Jerome Powell said that the unemployment data published by the Labor Department has “” the true damage the crisis has done to the labor market. He said that the real unemployment rate in January was almost 10%—significantly higher than the 6.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

We are on the Brink of Economic Recession, when you continue to pass executive orders in all areas or industry you create instability and job loss . Add a Pandemic , new climate policy and allowing undocumented people to come in thats perfect storm for a train wreck

Well if it was properly handled correctly from the beginning we would all be in a better position not enough vaccines because trump didn't think we needed them just look other countries that handled it much better look how Joe is doing it con man don to thank

God is truth. I lost my job because UPS let people lie on people! Pontifex stop worshipping the devil!

Legalize weed fast so all these jobs can be created. POTUS VP SenSchumer

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:

 /  🏆 394. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines