APRIL 26, 2021 – THE US JOB MARKET CONTINUES ITS RECOVERY
The Labor Department reported last week that first-time claims for unemployment insurance fell to 547,000, below expectations of 603,000 and the lowest level since the pandemic begun. The jobs situation remains below February 2020 levels with approximately 8 million more workers still unemployed, but the data indicates the declines seen over the last weeks are indicative of a trend.
As states begin lifting business restrictions, companies are rehiring with the expectation of conditions becoming closer to normal over the course of the summer. Continuing claims; which run on a one-week lag; fell last week by 34,000 to 3.87 million, another pandemic era low.