New jobless claims still exceed 750,000 in last week before election
Unemployment claims are continuing to sink, but they're still far above even pre-pandemic records.
Around 751,000 Americans filed unemployment claims for the first time last week, Labor Department numbers released Thursday revealed. That's down 40,000 from the week before, marking a continuing slide in the final jobs report before the election.
Jobless claims hit an overwhelming record high in the beginning of the COVID-19 pandemic, and have largely decreased since then. But their decline has slowed over the past few months as the pandemic continues — and starts to worsen again. Congress has also failed to agree on a COVID-19 relief package that could extend loans to businesses that would let them rehire workers, as well as boost the amount of benefits unemployed people receive.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Also growing in the past week are the number of people applying for the Pandemic Unemployment Assistance program for the first time. More than 360,000 people filed for PUA benefits, which Congress created to help gig workers, the self-employed, and others not eligible for typical unemployment. Meanwhile continued jobless claims decreased 709,000 to 7.8 million in the week.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Kathryn is a graduate of Syracuse University, with degrees in magazine journalism and information technology, along with hours to earn another degree after working at SU's independent paper The Daily Orange. She's currently recovering from a horse addiction while living in New York City, and likes to share her extremely dry sense of humor on Twitter.
-
The importance of discussing and dealing with debt
The Explainer Increasing numbers of people have 'problem debt' – but there are ways to tackle it
By Marc Shoffman, The Week UK Published
-
'Trump heavy on retribution, light on cash'
Today's Newspapers A roundup of the headlines from the US front pages
By The Week Staff Published
-
Crossword: March 19, 2024
The Week's daily crossword
By The Week Staff Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published
-
Immigration helped the US economy outpace peers
speed read The U.S. economy grew at an annualized rate of 3.2% last quarter
By Peter Weber, The Week US Published
-
4-day workweek gets boost from UK study
Speed Read Following a six-month trial, the majority of participating British companies are still using the truncated schedule
By Peter Weber, The Week US Published
-
US sues to block Kroger-Albertsons merger
Speed Read The Federal Trade Commission sued to block the $24.6 billion merger between the grocery giants
By Peter Weber, The Week US Published
-
Nvidia sees historic stock rise on AI chips success
Speed Read U.S. chipmaker Nvidia achieved the biggest one-day increase in value of any company in history
By Peter Weber, The Week US Published
-
New York may seize Trump's assets for $450M penalty
Speed Read The former president likely owes $600 million from two civil judgments in New York
By Peter Weber, The Week US Published
-
Capital One to buy Discover for $35B
Speed Read The deal, if cleared by regulators, would create the biggest credit card lender in the country
By Peter Weber, The Week US Published