The U.S. Department of Labor’s unemployment data last week shows new unemployment insurance claims rose to 373,000 and new job growth slowed, which is significantly different than the first half of 2021 in which new job growth expanded at a fast pace. However the level of continuing claims which reflect how many people are still receiving unemployment benefits decreased to 3.34 million, which is down 145,000 from last week’s total.New Unemployment Claims Rise To 373,000
Also last week, the June 2021 Jobs Report by the Labor Department show that non-farm employers added 850,000 new jobs last month, which is better than expected. However, more than 10 million Americans are still enrolled in pandemic related programs such as the federal enhanced pandemic benefits program, that program is set to expire in September. About half of U.S. states have ended their own Covid-19 benefits programs as more businesses reopen.