The number of Americans filed for the first time unemployed claims have fallen for the sixth consecutive week to a new level of pandemic, according to the Ministry of Labor.
SECRETARY OF LABOR DOUBLES FEDERAL UNEMPLOYED BENEFITS LIKE WORKING WITHOUT JOB
The data show that 376,000 people applied for benefits for the first time for the week ending 5 June, down 9,000 from 385,000 who had applied for the previous week. This marks the lowest level since March 1
Meanwhile, 3.499 million Americans received traditional state unemployment benefits in the week of May 29, down 258,000 from 3.771 million the previous week. This marks the lowest level since March 21, 2020, when ongoing unemployment claims were 3.09 million.
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The latest figures from the Ministry of Labor come just days after the agency announced that the jobs created reached a record 9.3 million in April. The layoffs fell to 1.4 million, the lowest since 2000, while 4 million left their jobs in April, another record and a sign that they are confident enough to try something new.
The US economy added 559,000 new jobs in May, economists forecast 650,000, and the unemployment rate fell from 6.1% to 5.8% in April, the lowest since companies closed in March 2020. The United States still does not reach 7.6 million jobs from where it stood in February 2020.
But employers post vacancies faster than job candidates can fill them. Many Americans are struggling with health problems and childcare associated with COVID-19 and career insecurity after the coronavirus recession destroyed many jobs forever. Some take the time to look for work because extended federal unemployment benefits pay more than their old jobs.
The Associated Press contributed to this report.