• New York
  • Politics
  • U.S.
    • Education
  • World
  • Opinion
  • Entertainment
    • Music
  • Tech
  • Business
  • Health
  • Lifestyle
    • Fashion
    • Travel
    • Food
  • Sports
  • Science
Thursday, May 19, 2022
  • Login
  • Register
NYC Daily Post
  • New York
  • Politics
  • U.S.
    • Education
  • World
  • Opinion
  • Entertainment
    • Music
  • Tech
  • Business
  • Health
  • Lifestyle
    • Fashion
    • Travel
    • Food
  • Sports
  • Science
No Result
View All Result
  • New York
  • Politics
  • U.S.
    • Education
  • World
  • Opinion
  • Entertainment
    • Music
  • Tech
  • Business
  • Health
  • Lifestyle
    • Fashion
    • Travel
    • Food
  • Sports
  • Science
No Result
View All Result
NYC Daily Post
No Result
View All Result
Home Business

US workers file 793,000 new jobless claims amid COVID-19 crisis

by The NYC Daily Post Editorial Staff
February 11, 2021
in Business
Reading Time: 2min read
0
Share on FacebookShare on Twitter



Yes, it’s still bad — but there may be a glimmer of hope in the latest unemployment numbers.

New applications for jobless benefits dropped to 793,000 last week even as the coronavirus crisis kept jobless filings at historic highs, the feds said Thursday.

The latest batch of initial jobless claims brought the total for the COVID-19 pandemic to about 78 million — equivalent to nearly 49 percent of the American workforce.

Nevertheless, last week’s filings fell from the prior week’s revised total of 812,000 to reach their lowest level since the week ending Jan. 9, US Department of Labor figures show.

“Claims remain stuck at painfully high levels,” said Robert Frick, corporate economist at Navy Federal Credit Union in Vienna, Virginia. “But we are seeing hopeful signs that claims will begin meaningful declines in the next month or two.”

The past month’s decline in new claims came as the nation’s deadly surge in coronavirus infections began to wane. New cases are now falling in 44 states after peaking at a daily record of about 312,000 in early January, according to the COVID Tracking Project.

That’s stoking optimism among some economists that hiring momentum could pick up by the spring.

“As states continue to gradually reopen their economies amid improved infection rates, vaccine distribution and fiscal aid, the labor market could slowly recover,” Bloomberg economist Eliza Winger said.

Still, jobless claims have remained above the pre-pandemic record of 695,000 for 47 consecutive weeks as the job market slowly bounced back from last spring’s historic downturn.

Economists were expecting 753,000 filings for last week, according to Wrightson ICAP.

The weekly unemployment claims report from the Labor Department, the most timely data on the economy’s health, also highlighted labor market scarring, with over 20 million people collecting unemployment checks in late January.

The continued threat of the virus led the US economy to add just 49,000 jobs in January after losing 227,000 in December.

Economists say that meager growth underscores the need for Congress to act on President Biden’s $1.9 trillion stimulus proposal, which would extend key aid programs such as a $300 weekly boost to unemployment benefits that are set to expire in March.

With Reuters

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to email this to a friend (Opens in new window)

Like this:

Like Loading...
Tags: BusinessCoronavirusdepartment of laboreconomyunemployment benefits
The NYC Daily Post Editorial Staff

The NYC Daily Post Editorial Staff

Related Posts

Can America Kill Its Prisoners Kindly?

by The NYC Daily Post Editorial Staff
March 31, 2022
0

Whether killing a person via intravenous poisoning qualifies as cruel and unusual remains, for the moment, an open question....

Chart of the Day Newsletter | Insider Intelligence

by The NYC Daily Post Editorial Staff
March 31, 2022
0

Each day, the Insider Intelligence team puts together a chart packed with data and key statistics on the biggest...

Act sooner, beware of greenwashing—CEOs speak out on climate

by The NYC Daily Post Editorial Staff
March 31, 2022
0

Act sooner. Beware of greenwashing. Small companies are falling behind. At a Fortune roundtable event on Wednesday, leaders from...

StoneCo Ltd. Stock is in Turnaround

by The NYC Daily Post Editorial Staff
March 31, 2022
0

Brazilian point-of-sale (POS) financial technology provider StoneCo (NASDAQ: STNE) stock has had a spectacular collapse from its high of...

Companies are using bankruptcy courts to thwart lawsuits

by The NYC Daily Post Editorial Staff
March 31, 2022
0

More and more wealthy companies and individuals, accused of wrongdoing, are turning to bankruptcy courts to block lawsuits —...

TravelPerk, Soldo Partner to Integrate Card, Travel Data

by The NYC Daily Post Editorial Staff
March 31, 2022
0

TravelPerk is partnering with European spend automation platform Soldo to integrate payment and expense management functions of the two...

Next Post

How the Virus Has Made the State’s Housing Crisis Worse

Leave a Reply Cancel reply

Recommended

Cricket 22 PC game coming soon, new features and gameplay released

7 months ago

USWNT gets ugly tie against Australia to advance at 2021 Tokyo Olympics

10 months ago

Popular News

  • What really happened to Ronald Hunkeler, who inspired ‘The Exorcist’

    0 shares
    Share 0 Tweet 0
  • Tom Cruise insisted ‘driving force’ Val Kilmer appear in ‘Top Gun’ sequel

    0 shares
    Share 0 Tweet 0
  • Cambridge University student athletes strip naked for risqué calendar

    0 shares
    Share 0 Tweet 0
  • Attractive people have better immune systems, new research reveals

    0 shares
    Share 0 Tweet 0
  • NYPD officer busted in Staten Island for violating restraining order: cops

    0 shares
    Share 0 Tweet 0

Newsletter

Get the latest news from the US and around the world in your inbox.
SUBSCRIBE

Category

  • Business
  • Education
  • Entertainment
  • Fashion
  • Food
  • Health
  • Lifestyle
  • Music
  • New York
  • Opinion
  • Politics
  • Science
  • Sports
  • Tech
  • Travel
  • U.S.
  • World

Site Links

  • Home
  • Meet our leadership
  • Newsletter
  • Submit an Article

The New York City Daily Post

Welcome to the world’s premier daily news platform. We bring you the latest news from the US and around the world right at your fingertips.

  • New York
  • Politics
  • U.S.
  • World
  • Opinion
  • Entertainment
  • Tech
  • Business
  • Health
  • Lifestyle
  • Sports
  • Science

© 2021. The NYC Daily Post. All rights reserved.

No Result
View All Result
  • New York
  • Politics
  • U.S.
    • Education
  • World
  • Opinion
  • Entertainment
    • Music
  • Tech
  • Business
  • Health
  • Lifestyle
    • Fashion
    • Travel
    • Food
  • Sports
  • Science

© 2021. The NYC Daily Post. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.
%d bloggers like this: