Unemployment drops to lowest level in six months

[mystery-ak]

Unemployment drops to lowest level in six months
By
Tim Collins
November 14, 2024 12:19 pm
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The number of people filing for unemployment dropped to its lowest level in six months, according to the Labor Department.

Jobless claims fell by 4,000 to 217,000, while the four-week average fell from 6,250 to 221,000, according to an ABC News report.

The previous time the unemployment applications averaged this low was in the first four months of 2024, when they hit 213,000 before rising steadily over the next few months and dropping last week.

Why unemployment has lowered, the report pointed out that, in October, the U.S. economy added only 12,000 jobs and that the estimate of new jobs from April 2023 to March 2024 was revised down by over 800,000 jobs, indicating a slowing job market.

more
https://www.washingtonexaminer.com/policy/finance-and-economy/3230103/unemployment-lowest-level-six-months/

[GtHawk]

First, I believe nothing coming out of this administration, second how many people have dropped off the unemployment rolls because they have maxed out their benefits? I expect soon they will be blowing their horn over increased employment that will be mostly due to seasonal hires and people thrown off unemployment who pick up jobs just long enough to requalify for unemployment benefits.

[berdie]

First, I believe nothing coming out of this administration, second how many people have dropped off the unemployment rolls because they have maxed out their benefits? I expect soon they will be blowing their horn over increased employment that will be mostly due to seasonal hires and people thrown off unemployment who pick up jobs just long enough to requalify for unemployment benefits.

Agreed. Especially seasonal hires.