Posted on 11/04/2021 7:54:23 AM PDT by ChicagoConservative27
New claims for unemployment insurance fell to a new post-lockdown low during the final week of October, according to data released Thursday by the Labor Department.
In the week ending Oct. 30, initial claims for unemployment insurance totaled 269,000, a decline of 14,000 from the previous week’s revised level of 283,000. New weekly claims have reached the lowest total since March 14, 2020, when roughly 225,000 Americans filed first-time jobless aid applications shortly before the U.S. locked down to contain the spread of COVID-19.
(Excerpt) Read more at thehill.com ...
In other words, people have up looking
With more jobs than available workers, why should jobless claims be high? The very generous unemployment benefits is the reason.
So has the Department of Labor.
The vaccine cures joblessness.
“The very generous unemployment benefits is the reason.”
That ended back in August or September.
You can’t claim benefits when you quit or are fired for not getting jabbed.
Only the $300 bonus ended. The standard benefits compete with all low level less skill required jobs. McDonalds near me can’t find workers at $11/hour starting wage. Aldi can’t find cashiers & stockers at $14/hour.
Maybe, but this report has nothing to do with that. The government releases several employment related reports.
This one is first-time unemployment claims. Layoffs.
They better grab that paying job while they’re there. No free rides coming up!
More ‘out of context’ garbage data from the lefturds.
What is the labor participation rate?
The civilian labor force dropped by 200,000 too. A lot of people giving up on working.
This is NOT good news. People are dropping out of the labor force entirely, living with parents, or getting on some other kind of government largess other than unemployment insurance.
That, and very few people are applying for jobs that require the jab (such as the airport jobs in Denver).
Some parents need to upsize, their kids are moving back in with their kids.
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