x

Economy

US Jobless Claims Unchanged at 205,000

December 23, 2021

The number of Americans applying for unemployment benefits was unchanged last week, remaining at a historically low level that reflects the job market’s strong recovery from the coronavirus recession last year.

Jobless claims remained at 205,000. The four-week average, which smooths out week-to-week ups and downs, rose to just over 206,000. The numbers suggest that the spread of the omicron variant did not immediately trigger a wave of layoffs.

“Fortunately, there’s no evidence in this data of a new wave of fresh job loss,” said Mark Hamrick, senior economic analyst at Bankrate.com. “The pandemic’s resurgence is affecting the economy. The question is for how long and how much, and it (is) too early to know the answers.”

Altogether, 1.9 million Americans were collecting traditional unemployment aid the week that ended Dec. 11.

The weekly claims numbers, a proxy for layoffs, have fallen steadily most of the year. Employers are reluctant to let workers go at a time when it’s so tough to find replacements. The United States had a near-record 11 million job openings in October, and 4.2 million Americans quit their jobs — just off September’s record 4.4 million — because there are so many opportunities.

The job market has bounced back from last year’s brief but intense coronavirus recession. When COVID hit, governments ordered lockdowns, consumers hunkered down at home and many businesses closed or cut back hours. Employers slashed more than 22 million jobs in March and April 2020, and the unemployment rate rocketed to 14.8%.

But massive government spending — and eventually the rollout of vaccines — brought the economy back. Employers have added 18.5 million jobs since April 2020, still leaving the U.S. still 3.9 million jobs short of what it had before the pandemic. The unemployment rate has fallen to 4.2%, close to what economists consider full employment.

RELATED

WASHINGTON — The Supreme Court wrestled with major questions about the growing issue of homelessness on Monday as it considered whether cities can punish people for sleeping outside when shelter space is lacking.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

A Palestinian Baby in Gaza is Born an Orphan in an Urgent Cesarean Section after an Israeli Strike

RAFAH, Gaza Strip (AP) — Sabreen Jouda came into the world seconds after her mother left it.

NEW YORK  — Monday's opening statements in the first criminal trial of a former American president provided a clear roadmap of how prosecutors will try to make the case that Donald Trump broke the law, and how the defense plans to fight the charges on multiple fronts.

ASTORIA – The singer Anastasia visited St.

CHICAGO, IL – This spring, Wrightwood 659 hosts Chryssa & New York, the first museum exhibition in North America in more than four decades to focus on the Greek-born artist Chryssa (1933–2013).

NEW YORK – Greek-American George Patrikis, owner of Ditmars Flower Shop in Astoria, was featured in the New York Times on April 15 about the rise in the cost of a dozen red roses from $60 in 2019 to $72 today.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.