Unemployed Americans drop by 55,000 last week.
The Labor Department released its updated diagnostic of the American jobs market on Thursday. The finding from their report was that 55,000 Americans are no longer applying for unemployment benefits, bringing the total number to 787,000 people. This is three times more people than who were unemployed prior to the pandemic.
While the numbers are promising, the total number of new cases increased up to 60,000 last week – the highest rate since July, posing questions of when a full economic recovery will be able to take place. Currently, members of Congress are meeting with Treasury Secretary Mnuchin to put forward an economic stimulus package prior to the election on November 3.
As the Lord Leads, Pray with Us…
- For God to provide for those who are in need in this country.
- That the Labor Department would have an accurate picture of the health of the economy.
- For the president’s administration to lead the nation out of the pandemic.
Sources: AP, CNN, Fox News
