The number of Americans filing claims for the first time for unemployment benefits hit an unexpected figure when it rose last week, although there are other indications that the labor market is recovering lately.
A report released by the Department of Labor today showed the number of unemployment claims last week recorded an increase in total readings of 770,000 claims despite the recovery from the Covid-19 pandemic. This reading has exceeded expectations set by analysts at 700,000 and jumped up from the previous week’s reading of 725,000.
The report comes amid hopes that the U.S. job market. showing signs of recovery from the Covid-19 pandemic and the closure of much of the economy. Several states in the United States have taken steps to reduce economic sanctions such as the states of Texas, Florida and Mississippi.
The number of ongoing claims to date stands at 4.12 million. In addition, U.S. vaccination rates. has been around 2.4 million a day, giving further hope that the pandemic’s impact on national health and the economy is diminishing.
On the other hand, the economy has added 545,000 jobs so far in 2021 and the unemployment rate has dropped to 6.2%. The US dollar index, which measures the greenback against other currencies, was strong by 0.44% at 91.860 as of 9.25 p.m.
