US jobless claims, a proxy for layoffs, hit a new pandemic low
Al Jazeera
Applications for unemployment benefits fell to a new coronavirus pandemic low in the US, despite job market headwinds from the virus’s Delta variant.
The number of Americans filing for unemployment benefits kept trending downward last week in a further sign that the United States labour market recovery is still on track and the Delta variant is not triggering new layoffs. Weekly jobless claims – a proxy for layoffs – fell to 310,000 last week, the US Department of Labor said on Thursday. That’s a new coronavirus pandemic low, and only about 100,000 shy of pre-pandemic levels. That’s good news for the US jobs market, which is facing headwinds from the spread of the Delta variant – especially in virus-sensitive businesses such as restaurants, hotels, and air travel that involve face-to-face customer interactions.More Related News