- By James Kravitz
- (General Dispatch) – The Labor Department has revealed that last week’s jobless claims fell by 547,000, which has caused astonishment as the pandemic should have caused claims to be even higher.
- However, economists had estimated that the figures would be over 600,000, but said that such numbers can vary, as applications tend to be very volatile, so they prefer to conduct a monthly average study.
- Although the Biden administration has been willing to implement measures to promote work, offering help to small businessmen as well as to workers directly, the investigation affirmed that there was a considerable increase in the week ending Saturday, April 3.
- The week of March 27th of the previous year, 6.87 million applications were reported, perhaps one of the possible reasons that makes applications decrease is the summer season.
- According to studies claim that before the pandemic announcement, at the end of July the economy seemed to stagnate, holding at only 1 million job applications.
- Now economists said that weeks in March of this year applications soared in an astounding way, but also fell weeks later to their lowest point.
- Although Biden had implemented a $1.9 trillion stimulus bill, only a small part of it has been implemented, economic activity has been recovering after the easing of restrictions in most states, but it seems that much of the population still maintains some fear of the coronavirus infection affecting job application numbers.
Adittional Information:
Breitbart: America’s Reopening: Jobless Claims Unexpectedly Drop to 547,000
Dol Gov: TRANSMISSION OF MATERIALS IN THIS RELEASE IS EMBARGOED UNTIL
