Jobless claims fall to post-pandemic low of 293,000
by Zachary Halaschak, Economics Reporter |
| October 14, 2021 08:32 AM
The number of new applications for unemployment benefits fell 36,000 last week to 293,000, the Labor Department reported on Thursday.
In a positive sign for the U.S. economic recovery, Thursday’s jobless claims number was less than forecasters’ expectations of 319,000.
Thursday's news follows a September jobs report, released last week, that fell short of expectations with just 194,000 new jobs.
The Thursday report on people applying for unemployment also followed this week’s news that the number of people quitting their jobs is at an all-time high .
About 4.3 million workers quit their jobs in August, a figure that is up from 4 million in July. The number of people quitting is the highest since the U.S. began keeping records of the statistic about two decades ago and is equivalent to about 3% of the country’s workforce.
The U.S. economy is also ensnarled in major supply-chain issues. Ports are backlogged and some customers have been waiting long periods of time to receive the goods they ordered. Concerns about the supply-chain problems are compounded by the approaching holiday season , which will feature elevated shipping demands.
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