New jobless claims down by 14,000.
On Thursday, the Department of Labor released its analysis of the jobs market in America. Labor officials found new unemployment claims had decreased by 14,000 down to 385,000 last week. Prior to the pandemic unemployment claims hovered at around 220,000 per week. The department also noted that the country has added an average of 540,000 jobs per month in 2021.
The release offers hope amid reported increases of COVID-19 cases in certain counties. The U.S. economy is still 6.8 million jobs behind where it was prior to the start of the pandemic but is recovering at a steady pace. August is also the final month of expanded federal unemployment benefits, with the extra $300 per month ending on September 6. In total, 13 million Americans received unemployment aid the week of July 17.
As the Lord Leads, Pray with Us…
- That Department of Labor officials would seek God’s discernment as they analyze the workforce.
- For Secretary Walsh as he heads the Labor Department.
- For Congress to have wisdom as they consider legislation that impacts the national economy.
Sources: AP, Reuters, Wall Street Journal
