Jobless Claims Fall to 340,000, Still 2.75 Million Unemployed Americans

Video Credit: Wibbitz Top Stories
Published on September 2, 2021 - Duration: 01:30s

Jobless Claims Fall to 340,000, Still 2.75 Million Unemployed Americans

Jobless Claims Fall to 340,000, , Still 2.75 Million Unemployed Americans.

On September 2, the Labor Department reported that initial filings for unemployment insurance fell last week to their lowest levels since March 2020.

On September 2, the Labor Department reported that initial filings for unemployment insurance fell last week to their lowest levels since March 2020.

For the week ending August 28, first-time jobless claims totaled 340,000.

CNBC reports that is the lowest level for initial claims since March 14, 2020, when first-time claims totaled 256,000.

The level of continuing claims, or those already unemployed, was 2.75 million.

That number is down 160,000 from the previous weekโ€™s count and also represents the lowest level for insured unemployment since the pandemic began.

That number is down 160,000 from the previous weekโ€™s count and also represents the lowest level for insured unemployment since the pandemic began.

Economists have noted that federal unemployment benefits are scheduled to expire September 6, Labor Day.

CNBC points out that parents may be able to finally return to the office with public schools starting to open across the U.S. CNBC points out that parents may be able to finally return to the office with public schools starting to open across the U.S. Bottom line, we now have the lowest initial filings for claims and smallest level of continuing claims since everything changed in March last year, Peter Boockvar, Chief investment officer at Bleakley Advisory Group, via CNBC.

Just listen to any company that is looking to expand and youโ€™ll hear stories about the difficulty in finding positions so it makes sense that claims continue to decline, Peter Boockvar, Chief investment officer at Bleakley Advisory Group, via CNBC.

The jobless claims data comes one day ahead of the Labor Departmentโ€™s monthly jobs report.

CNBC reports that the Federal Reserve uses that report as a gauge to determine its monetary policy.

CNBC reports that the Federal Reserve uses that report as a gauge to determine its monetary policy


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