×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: unemployment benefit claims rise but are near 50 year low

US Jobless Claims Rise but Remain Near a Half-Century Low

help wanted
(Dreamstime)

Thursday, 14 April 2022 08:49 AM EDT

The number of people seeking unemployment benefits ticked up last week but remained at a historically low level, reflecting a robust U.S. labor market with near record-high job openings and few layoffs.

Jobless claims rose by 18,000 to 185,000, the Labor Department said Thursday, after nearly touching the lowest level since 1968 in the previous week. The four-week average of claims, which levels out week-to-week ups and downs, edged up from 170,000 to 172,000.

Two years after the coronavirus pandemic sent the economy into a brief but devastating recession, American workers are enjoying extraordinary job security. Weekly applications for unemployment aid, a proxy for layoffs, have remained consistently below the pre-pandemic level of 225,000.

Last year, employers added a record 6.7 million jobs, and they've added an average of 560,000 more each month so far in 2022. The unemployment rate, which soared to 14.7% in April 2020 in the depths of the COVID-19 recession, is now just 3.6%, barely above the lowest point in 50 years. And there is a record proportion of 1.7 job openings for every unemployed American.

The resilience of the job market and the overall U.S. economy is striking in light of a still-destructive pandemic, the economic consequences of Russia’s war against Ukraine and the highest consumer inflation in 40 years.

Fewer than 1.48 million Americans were collecting traditional unemployment benefits in the week of April 2.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


StreetTalk
The number of people seeking unemployment benefits ticked up last week but remained at a historically low level, reflecting a robust U.S. labor market with near record-high job openings and few layoffs.
unemployment benefit claims rise but are near 50 year low
231
2022-49-14
Thursday, 14 April 2022 08:49 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved