US Department of Labor: the world’s largest economy is recovering steadily but unevenly from the crisis.
The Labor Department on Thursday reported that the number of first-time applications for unemployment benefits in the United States fell again amid a strong but uneven recovery in the world’s largest economy after the outbreak of the coronavirus pandemic.
Last week, 444 thousand Americans applied for benefits, which is 34 thousand less than the revised figure for the week before last, which was the lowest since mid-March 2020, when the pandemic began.
So far, about 48 percent of the U.S. adult population has been fully vaccinated against the coronavirus, contributing to the economic recovery, although the rate of vaccination has decreased from the peak recorded a few weeks ago.
The continued decline in the number of applications for unemployment benefits may portend an increase in hiring, but in April, only 266 thousand jobs were added in the United States, while in March this figure reached 916 thousand. There are still about 10 million unemployed people in the country. The Statista website indicates the current unemployment rate in the country as 6.1%, even though the US labor market is traditionally considered to be prosperous if the unemployment rate does not exceed 5.0%.
At the same time, in an uneven recovery, many employers report labor shortages, especially in low-paying positions such as waiters and salesmen. The federal government introduced $ 300-a-week jobless benefits until early September. However, authorities in at least 21 of the 50 states are ending participation in the program early, arguing that the allowances are damaging the economic recovery, as many Americans are becoming more profitable to receive benefits than to work.