APCoronavirusIndiana NewsNational NewsOhio News

US jobless claims tick up to 412,000 from a pandemic low

WASHINGTON (AP): The number of Americans applying for unemployment benefits rose last week for the first time since April despite widespread evidence that the economy and the job market are rebounding steadily from the pandemic recession.

The Labor Department said Thursday that jobless claims rose 37,000 from the week before. As the job market has strengthened, the number of weekly applications for unemployment aid has fallen for most of the year. The number of jobless claims generally reflects the pace of layoffs.

With vaccinations up and more consumers venturing out to spend — on restaurant meals, airline fares, movie tickets, and store purchases — the economy is rapidly recovering from the recession. All that renewed spending has fueled customer demand and led many companies to seek new workers, often at higher wages, and avoid layoffs.

In fact, the speed of the rebound from the recession has caught many businesses off guard and touched off a scramble to hire. In May, employers added a less-than-expected 559,000 jobs, evidence that many companies are struggling to find enough workers as the economy recovers faster than expected.

Related posts

Sports Memorabilia Forfeited to Repay Ball State

WOWO News

Carrier closure being blamed by Sen. Donnelly on cheap labor chase

Tom Franklin

Mayor Tucker delivers State of the City 2026 – Time to Invest In Ourselves

Brian Ford

Leave a Comment