UNITED STATES NEWS

US jobless claims hit 52-year low after seasonal adjustments

Nov 24, 2021, 3:00 PM

WASHINGTON (AP) — The number of Americans applying for unemployment benefits plummeted last week to the lowest level in more than half a century, another sign that the U.S. job market is rebounding rapidly from last year’s coronavirus recession.

Jobless claims dropped by 71,000 to 199,000, the lowest since mid-November 1969. But seasonal adjustments around the Thanksgiving holiday contributed significantly to the bigger-than-expected drop. Unadjusted, claims actually ticked up by more than 18,000 to nearly 259,000.

The four-week average of claims, which smooths out weekly ups and downs, also dropped — by 21,000 to just over 252,000, the lowest since mid-March 2020 when the pandemic slammed the economy.

Since topping 900,000 in early January, the applications have fallen steadily toward and now fallen below their prepandemic level of around 220,000 a week. Claims for jobless aid are a proxy for layoffs.

Overall, 2 million Americans were collecting traditional unemployment checks the week that ended Nov. 13, down slightly from the week before.

“Overall, expect continued volatility in the headline figures, but the trend remains very slowly lower,” Contingent Macro Advisors wrote in a research note.

Until Sept. 6, the federal government had supplemented state unemployment insurance programs by paying an extra payment of $300 a week and extending benefits to gig workers and to those who were out of work for six months or more. Including the federal programs, the number of Americans receiving some form of jobless aid peaked at more than 33 million in June 2020.

The job market has staged a remarkable comeback since the spring of 2020 when the coronavirus pandemic forced businesses to close or cut hours and kept many Americans at home as a health precaution. In March and April last year, employers slashed more than 22 million jobs.

But government relief checks, super-low interest rates and the rollout of vaccines combined to give consumers the confidence and financial wherewithal to start spending again. Employers, scrambling to meet an unexpected surge in demand, have made 18 million new hires since April 2020 and are expected to add another 575,000 this month. Still, the United States remains 4 million short of the jobs it had in February 2020.

Companies now complain that they can’t find workers to fill job openings, a near-record 10.4 million in September. Workers, finding themselves with bargaining clout for the first time in decades, are becoming choosier about jobs; a record 4.4 million quit in September, a sign they have confidence in their ability to find something better.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Lifetime Windows & Doors

United States News

Morocco's head coach Walid Regragui is thrown in the air at the end of the World Cup round of 16 so...
Associated Press

The next World Cup will jump to 48 teams. Is bigger better?

DOHA, Qatar (AP) — The next World Cup will be the biggest ever after world soccer body FIFA took the leap from a 32-team field to 48 teams in 2026. It means more of soccer’s so-called “little teams” that didn’t make it to Qatar will be given a chance of a lifetime when the tournament […]
4 hours ago
FILE - Three girls embrace before they are removed from the home of Samuel Bateman, following his a...
Associated Press

FBI: Polygamous leader had 20 wives, many of them minors

FLAGSTAFF, Ariz. (AP) — The leader of small polygamous group near the Arizona-Utah border had taken at least 20 wives, most of them minors, and punished followers who did not treat him as a prophet, newly filed federal court documents show. Samuel Bateman was a former member of the Fundamentalist Church of Jesus Christ of […]
4 hours ago
FILE - Israeli lawmaker Itamar Ben-Gvir, center, surrounded by right wing activists with Israeli fl...
Associated Press

US Jews fear collision with expected Israeli government

JERUSALEM (AP) — Israel’s ties to the Jewish American community, one of its closest and most important allies, are about to be put to the test, with Israel’s emerging far-right government on a collision course with Jews in the United States. Major Jewish American organizations, traditionally a bedrock of support for Israel, have expressed alarm […]
1 day ago
Yale University doctoral students Siria Gamez, and Aishwarya Bhandari, rear, work on a wildlife cam...
Associated Press

Extinctions, shrinking habitat spur ‘rewilding’ in cities

DETROIT (AP) — In a bustling metro area of 4.3 million people, Yale University wildlife biologist Nyeema Harris ventures into isolated thickets to study Detroit’s most elusive residents — coyotes, foxes, raccoons and skunks among them. Harris and colleagues have placed trail cameras in woodsy sections of 25 city parks for the past five years. […]
1 day ago
FILE - The battleship USS Arizona belches smoke as it topples over during a Japanese surprise attac...
Associated Press

Hawaii remembrance to draw handful of Pearl Harbor survivors

PEARL HARBOR, Hawaii (AP) — A handful of centenarian survivors of the attack on Pearl Harbor are expected to gather at the scene of the Japanese bombing on Wednesday to commemorate those who perished 81 years ago. That’s fewer than in recent years, when a dozen or more traveled to Hawaii from across the country […]
1 day ago
FILE - Light illuminates part of the Supreme Court building at dusk on Capitol Hill in Washington, ...
Associated Press

Justices take up elections case that could reshape voting

WASHINGTON (AP) — The Supreme Court is taking up a case with the potential to fundamentally reshape elections for Congress and the presidency. The justices are hearing arguments Wednesday over the power of state courts to strike down congressional districts drawn by the legislature because they violate state constitutions. Republicans from North Carolina who are […]
1 day ago

Sponsored Articles

...
Quantum Fiber

How high-speed fiber internet edges out cable for everyday use

In a world where technology drives so much of our daily lives, a lack of high-speed internet can be a major issue.
...
SCHWARTZ LASER EYE CENTER

Key dates for Arizona sports fans to look forward to this fall

Fall brings new beginnings in different ways for Arizona’s professional sports teams like the Cardinals and Coyotes.
...
Day & Night Air Conditioning, Heating and Plumbing

Here are 4 signs the HVAC unit needs to be replaced

Pool renovations and kitchen upgrades may seem enticing, but at the forefront of these investments arguably should be what residents use the most. In a state where summertime is sweltering, access to a functioning HVAC unit can be critical.
US jobless claims hit 52-year low after seasonal adjustments