HEAT ALERT

Dangerous heat continues today in Brooklyn for the first day of summer

The New Normal: US jobless claims down 24,000 to 400,000 as economy recovers

The number of Americans collecting unemployment benefits slid last week, another sign that the job market continues to recover rapidly from the coronavirus recession.

Associated Press

Jul 29, 2021, 3:18 PM

Updated 1,057 days ago

Share:

The number of Americans collecting unemployment benefits slid last week, another sign that the job market continues to recover rapidly from the coronavirus recession.
Jobless claims dropped by 24,000 to 400,000 last week, the Labor Department reported Thursday.
The weekly applications have fallen more or less steadily this year - from a peak of 904,000 in early to January. But they remain high by historic standards: Before COVID struck the United States in March 2020, claims were coming in at about 220,000 a week.
The job market and overall economy have been recovering from the collapse of the spring of 2020. The rollout of vaccines this year has encouraged businesses to reopen or expand their hours and sent cooped-up consumers back out to visit restaurants, bars and shops.
Still the health crisis isn't over. COVID-19 cases are ticking up as the highly contagious delta variant spreads among the unvaccinated. The United States is reporting an average of more than 50,000 new cases a day, up from fewer than 12,000 a day in late June. The increase in cases could have economic consequences if governments decide to restrict business activity again or if consumers choose to stay at home as a precaution.
For now, though, the economy is so strong that many businesses say they can't find workers. Employers posted a record 9.2 million job openings in May, advertising vacancies faster than applicants can fill them.
Responding to complaints of a labor shortage, 22 states have decided to end a $300-a-week federal employment benefits meant to cushion the economic fallout from the pandemic. Twenty states have dropped out of two other federal programs -- one of which provides benefits to the self-employed and gig workers and another that serves those who have been out of work for six months or longer. The expanded programs are scheduled to expire nationwide Sept. 6.
Overall, 13.2 million people were receiving some type of jobless aid the week of July 10, down from 31.9 million a year ago.
“Beyond weekly ups and downs, the trend in total filings should remain downward over coming weeks," Rubeela Farooqi, chief U.S. economist at High Frequency Economics, wrote in a research report. “ Overall, job growth should pick up and labor shortages should ease as near-term constraints – virus concerns, child-care issues and enhanced unemployment benefits – diminish. But rising virus cases could be a headwind for the labor market and the economy.''


More from News 12
2:28
HEAT ALERT: Hazy heat sticks around through Friday in Brooklyn; tracking weekend thunderstorms

HEAT ALERT: Hazy heat sticks around through Friday in Brooklyn; tracking weekend thunderstorms

2:06
Pride Month: Local salon goes the extra mile to help all people feel welcome and look their best

Pride Month: Local salon goes the extra mile to help all people feel welcome and look their best

1:47
Volunteer group takes community safety in Brooklyn to a new level

Volunteer group takes community safety in Brooklyn to a new level

0:59
Mayor announces over $1 billion set aside to create new jobs for New Yorkers

Mayor announces over $1 billion set aside to create new jobs for New Yorkers

1:56
Midwood man bitten by snake he found in his bathroom

Midwood man bitten by snake he found in his bathroom

1:54
Feeling dehydrated? Water intake calculator can help you stay safe during hot weather

Feeling dehydrated? Water intake calculator can help you stay safe during hot weather

1:38
Health experts urge Brooklyn swimmers to stay safe before heading into the ocean to cool off

Health experts urge Brooklyn swimmers to stay safe before heading into the ocean to cool off

0:31
NYPD: 15-year-old shot and injured in East Flatbush; 4 suspects wanted

NYPD: 15-year-old shot and injured in East Flatbush; 4 suspects wanted

1:46
Coney Island beach left covered in trash overnight amid hot weather

Coney Island beach left covered in trash overnight amid hot weather

1:58
Shuffleboarding hot spot offers retro fun with a modern touch

Shuffleboarding hot spot offers retro fun with a modern touch

0:21
Suspects steal $8,000 from Sunset Park business, police say

Suspects steal $8,000 from Sunset Park business, police say

0:31
FDNY: Firefighter, another person injured in Ocean Hill fire

FDNY: Firefighter, another person injured in Ocean Hill fire

1:32
Heat Alert: How to help your dog battle the heat

Heat Alert: How to help your dog battle the heat

1:57
Likelihood of hot car deaths increases as New York City sees hottest week of the year so far

Likelihood of hot car deaths increases as New York City sees hottest week of the year so far

0:36
Bill proposed in City Council looks to extend NYC public pool season

Bill proposed in City Council looks to extend NYC public pool season

1:21
Water Lab opens for the season

Water Lab opens for the season

0:32
Gov. Hochul announces more than 100 illegal cannabis shops were shut down and padlocked

Gov. Hochul announces more than 100 illegal cannabis shops were shut down and padlocked

1:51
Brownsville native hosts football clinic for young athletes to commemorate Juneteenth

Brownsville native hosts football clinic for young athletes to commemorate Juneteenth

2:46
‘People have worked so hard.’ Woman who helped make Juneteenth a national holiday visits New Jersey

‘People have worked so hard.’ Woman who helped make Juneteenth a national holiday visits New Jersey

0:15
Bed-Stuy street co-named for legendary jazz drummer, Brooklyn native Max Roach

Bed-Stuy street co-named for legendary jazz drummer, Brooklyn native Max Roach