US Jobless Benefit Claims Dropped Sharply Last Week

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(Worthy News) – First-time claims for U.S. unemployment compensation dropped sharply last week after three straight weeks of increasing numbers of jobless workers filing for benefits, the Labor Department reported Thursday.

A total of 326,000 jobless workers filed for assistance, down 38,000 from the revised figure of the week before, an indication that the U.S. economy, the world’s largest, remains on a general recovery from the worst economic effects of the 18-month coronavirus pandemic.

Still, the claims figure remains well above the 218,000 average in 2019. The jobless claims total has fallen steadily but unevenly since topping 900,000 in early January. Filings for unemployment compensation have often been seen as a current reading of the country’s economic health, but economists and Washington officials will also be closely watching the September job growth number set for release on Friday. [ Source: VOA News (Read More…) ]

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