385K pushes #unemployment to newer lows & close to pre #COVID19 ~ @USDOL

Courtesy: Daniel Quintanilla

The United States Department Of Labor achieved another tremendous milestone today as COVID19 unemployment figures are now a race to the bottom instead of the top, setting yet another new low that’s now 385,000 in what’s becoming the end of this pandemic (this is the lowest level for initial claims since March 14, 2020 when it was 256,000), falling below 400,000 by 20,000 from last week’s 405,000 revised too by 1,000 from 406,000.

Though, more and more people are going back to work as an increasing amount of states ease COVID restrictions and traveling for Memorial Day weekend, the insured unemployment rate inched up by 0.1 percent to land at 2.7 percent with last week’s 2.6 unchanged, the figure surprising increased by 169,000 to 3,771,000 from last week’s 3,602,000 which revised down by 40,000 from 3,642,000, the increase could stem from claims finally being processed and those reluctant to go back to work.

Daniel Quintanilla

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