05/20/2021

U.S. Jobless Claims Drop to 444,000

This is a new pandemic low

The number of Americans seeking unemployment aid fell last week to 444,000, a new pandemic low and a sign that the job market keeps strengthening as consumers spend freely again, viral infections drop and business restrictions ease.

Thursday's report from the Labor Department coincides with moves by nearly all the nation’s Republican governors to cut off a $300-a-week federal unemployment benefit that they and many business executives blame for discouraging the unemployed from seeking jobs. Those cutoffs of federal jobless aid will begin in June. Jobless people have been able to receive the $300 weekly benefit on top of their regular state unemployment aid.

In addition to ending the federal benefit, most of the same states are also withdrawing from programs that provided jobless aid to self-employed or gig workers and to people who have been unemployed for more than six months.

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