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

Last week, 310,000 Americans applied for unemployment benefits, adjusted for seasonal fluctuations, the Department of Labor said Thursday.

In addition, 96,198 workers, a figure not set for seasonality, filed claims under the Pandemic Unemployment Assistance Program, which provides benefits to those who are not eligible for regular state aid. , like the self-employed.

For millions of unemployed workers this means no more emergency aid.

“Today’s unemployment report also shows how short the elimination of pandemic unemployment benefits is,” said Andrew Stettner, a senior member of left-wing think tank The Century. Foundation. “Unemployed workers are facing a tsunami of hardships and suffering that they simply did not need to go through.”

The effect that the reduction in benefits may have on the labor market is still under debate. Previous setbacks in some states did not lead to material changes in the employment situation.

In all, about 12 million Americans received benefits under various government programs in the week ending August 21st.

“In the coming weeks, seasonal hiring dynamics and the end of federal pandemic unemployment assistance are expected to affect initial unemployment benefit claims and the overall number of people receiving some form of unemployment benefit. unemployment insurance, ”said Joe Brusuelas, chief economist at RSM.

The U.S. labor situation has materially improved since the start of the pandemic recovery, but the nation still maintains more than 5 million jobs below February 2020 levels.

The August monthly report, released on September 3, was a major disappointment in relation to expectations, as the more contagious Delta variant continues to leave its mark on the recovering economy.

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