Unemployment Claims , Hit Pandemic Low.
ABC News reports the amount of Americans applying for unemployment benefits dwindled
to an all-pandemic low last week.
Jobless claims fell by 14,000, leaving the total tally of Americans who had applied for benefits hovering around 269,000. .
Economists continue to say the
labor market is on the rebound.
[Unemployment] claims are headed in the right direction, showing the labor market recovery continues,
albeit slowly. , Economists With Contingent Macro Research, via ABC News.
In March and April 2020, amid the onset of
the COVID-19 pandemic, employers
eliminated more than 22 million jobs.
2.1 million Americans were collecting unemployment insurance as of Oct 23.
Economists say that consumers have resumed their pre-pandemic spending habits.
Consumer demand is now putting a strain on the labor forces of many large corporations.
Consumer demand is now putting a strain on the labor forces of many large corporations.
Companies complain they are having
trouble finding more employees.
10.4 million new jobs
were posted in August. .
It is estimated that 400,000 new
workers were added in October.
Some corporations have now resorted to raising wages and offering signing bonuses to fill these positions