BACK ON TRACK: Unemployment Claims Hit Another New Pandemic-era Low
June 3, 2021
|Last week, jobless claims hit a new pandemic-era low for the fifth consecutive week, further evidence that Joe Biden and Democrats are getting our country back on track, no thanks to Republicans who have tried to stand in the way.
We have now hit five consecutive weeks of pandemic-era record low unemployment claims.
CBS News: “The number of weekly jobless claims, which generally reflect the pace of layoffs, has fallen steadily all year…The drop reflects the job market’s ongoing recovery from the coronavirus recession. More Americans are venturing out to shop, travel, dine and congregate at entertainment venues. All that renewed spending is boosting hiring by companies.”
Associated Press: “The number of Americans seeking unemployment benefits fell last week for a fifth straight week to a new pandemic low, the latest evidence that the U.S. job market is regaining its health as the economy further reopens. The Labor Department reported Thursday that jobless claims dropped to 385,000, down 20,000 from the week before.”
Companies added nearly 1 million jobs last month as the labor market continues to recover.
CNBC: “Private job growth for May accelerated at its fastest pace in nearly a year as companies hired 970,000 workers, according to a report Thursday from payroll processing firm ADP…. The ADP figures showed a boom in leisure and hospitality jobs. In a continuing recovery for the industry hurt most by the government-induced lockdowns, the sector added 440,000 new jobs for the month.”