Jobless claims fall to 290,000, lowest since start of pandemic

[mystery-ak]

Jobless claims fall to 290,000, lowest since start of pandemic
by Zachary Halaschak, Economics Reporter |
 | October 21, 2021 08:31 AM

The number of new applications for unemployment benefits fell 6,000 last week to 290,000, the Labor Department reported on Thursday.

In a positive sign for the economic recovery, Thursday’s jobless claims number was less than forecasters’ expectations of 300,000. It also represents the fewest weekly claims for unemployment since the COVID-19 pandemic began.

The September jobs report, released earlier this month, was a disappointment with just 194,000 new jobs.

While the unemployment rate has been falling and is now at 4.8%, that figure is still well above the 3.5% rate before the pandemic. There are still millions of fewer jobs than in February 2020.

Another economic indicator being closely watched and analyzed by economists is the current rate of inflation.

more
https://www.washingtonexaminer.com/news/jobless-claims-supply-chain-inflation

[libertybele]

So glad that Joe has worked so hard to bring back jobs! 

[EdinVA]

So why have we been told for months that no one wants to work? 

Why has the conversation been, for months, millions of open jobs and no one to do them?
Get your story straight...

[Wingnut]

UE numbers are meaningless in the Biteme Joe age.

[Kamaji]

UE numbers have always been a lot less reliable than what they've been taken as meaning.  In particular, since the headline UE numbers don't take into account those people who are no longer receiving benefits because they've run out of time, and who have permanently dropped out of the employment system, they can be very misleading.