Jobless Claims Shift Suddenly in United States As Economy Slows

Jobless Claims Shift Suddenly in United States As Economy Slows

(ConservativeInsider.org) – Americans hoped that as our nation inched towards the end of the coronavirus pandemic, the economy and unemployment rates would bounce back. While this has been true to some extent over the past few months, the latest numbers from the US Department of Labor (DOL) tell a different story for this summer.

On Thursday, August 26, the DOL reported that initial jobless claims rose by 4,000 from the previous week to 353,000. This small uptick is likely reflecting the economy’s slowdown as COVID-19’s Delta variant brings uncertainty to businesses across the nation.

While the increase of jobless claims number is not good, the 4-week moving average for new claims is down to 366,500, which is the lowest since March 14, 2020. This still shows slow progress towards a healthy economy, although that may still be far off.

Breitbart shared the news on Twitter:

Many Americans wonder why there’s hesitancy to return to work. Some Americans are still receiving enhanced unemployment checks and have no need to return to work. Others may be uncertain whether they can take a job outside the home if schools shut down again.

While these numbers are discouraging, citizens must remember that American ingenuity, creativity, and drive built this nation for the past two centuries, and that’s what will bring our economy to its feet once again.

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