According to the latest report of the US Department of Labor, although it did not meet expectations, the number of first-time jobless claims has dropped to the lowest level since the beginning of the pandemic. Ministry of Labor.
The reported number of initial claims for unemployment benefits reached 267,000, a decrease of 4,000 from the revised level last week. This almost surpassed the low of March 14, 2020, the 256,000 jobless claims before the COVID crisis devastated the economy. However, these figures failed to reach the estimated 260,000 people.
The largest increases were in Kentucky, Louisiana, Minnesota, Tennessee and New Jersey, which reported the largest increases in the number of first-time jobless claims for the week ending October 30. Missouri, Florida, Virginia, Oklahoma, and Pennsylvania.
The highest insured unemployment rates for the week ending October 23 were in Puerto Rico, California, the District of Columbia, New Jersey, Virgin Islands, Alaska, Hawaii, Illinois, Nevada, and Oregon.
The total number of applications for unemployment benefits in the week ended October 30 was 2,160,000, an increase of 59,000 from the revised 2,101,000 a week ago.
Continuing claims reflect the total number of people receiving some form of assistance, and also hit a new pandemic low, dropping 107,000 people from the previous week to approximately 2.6 million people.
As of the week of October 30, the insured unemployment rate was 1.6%.
Photo: Getty Images North America/Justin Sullivan
