USA unemployment claims drop to lowest level of lockdown

USA unemployment claims drop to lowest level of lockdown

The unemployment rate fell to 10.2 per cent in August compared with 10.9 per cent in July.

Other labor market indicators are flagging a cooling in job growth, however, with US manufacturing activity surging to a almost two-year high in August but employment continuing to lag.

Nonfarm payrolls - a compiled name for goods, construction and manufacturing companies in the USA - increased by 1.37 million, including the hiring of 238,000 temporary census workers, according to a Labour Department report on Friday.

In recent months, the U.S.'s efforts to get the economy fully up and running have encountered several hurdles, including a surge in COVID-19 infections in a number of southern and western states, which have caused local governments to reinforce lockdowns and restrictions on nonessential businesses.

Another report on Thursday showed job cuts elevated in August amid layoffs by airlines. The government is scheduled to publish August's employment report on Friday.

The claims report also showed the number of people receiving benefits after an initial week of aid dropped 1.238 million to 13.254 million in the week ending August 22.

Hiring was slightly better than the 1.3 million new jobs forecast by economists, with Bankrate senior economic analyst Mark Hamrick calling the drop in the jobless rate "a pleasant surprise". Part of the decrease in so-called continuing claims was likely because of people exhausting eligibility for benefits. That would still leave the economy about 13 million jobs short of the number it's lost to the pandemic.

In an analysis, Rubeela Farooqi of High Frequency Economics said there were signs in the claims data that the very tentative recovery was already waning.

Employment numbers did not decline either and the unemployment rate did drop by one point to 11.8%, as "fewer people looked for work", according to Stats Can.

The manufacturing and agricultural sector accounted for more than 6,000 people who found work.

Related Articles

  • US Jobless Claims Give Mixed Picture With Shift in Adjustments

    US Jobless Claims Give Mixed Picture With Shift in Adjustments

    These programs generally provided benefits during the pandemic to people who were not eligible for unemployment insurance. This figure has decreased compared to the previous week, but the total has not been corrected, making comparison hard .
    U.S. CDC reports 183,050 coronavirus deaths

    U.S. CDC reports 183,050 coronavirus deaths

    Someone with heart problems can still be killed by COVID-19, and the death certificate could mention both as contributing. Early on in the coronavirus disease (COVID-19) pandemic, there was little data on the virus and how it affects the body.
    Apple preparing to build 75 mil 5G iPhones later this year

    Apple preparing to build 75 mil 5G iPhones later this year

    With that in mind we'd suggest you can buy the AirPods Pro with reservation, but don't buy the standard AirPods. Apple will presumably keep the Pro branding for the two more expensive of the handsets.
  • Market bounces well of lows in volatile day

    Market bounces well of lows in volatile day

    Back in March, the market plummeted as the coronavirus spread across the world, but stocks went on erase those losses soon after. Tens of millions of Americans remain unemployed however, as seen by this week's unemployment benefits numbers.
    Trump supporter's auto  drives into crowd of protesters in NY

    Trump supporter's auto drives into crowd of protesters in NY

    Video shows a black Taurus sedan approaching a group of protesters, before accelerating aggressively through the crowd. A auto plowed through a crowd of Black Lives Matter protesters in New York City's Times Square on Thursday night.
    U.S.  says it will be ready for vaccine distribution by November

    U.S. says it will be ready for vaccine distribution by November

    The CDC documents describe two potential vaccine options, which match the profiles of candidates from Pfizer and Moderna. The WHO has rejected Mr Trump's assertion.
  • Kiwis missing after live export ship sinks in storm

    Kiwis missing after live export ship sinks in storm

    Cattle shipments to China make up the majority of the live export trade - in 2019 almost 32,300 cows were shipped to the country. The ship sent a distress signal at 4.45am NZT yesterday in the East China Sea, an area being affected by Typhoon Maysak.
    F1 Chinese Grand Prix set for new race deal until 2025

    F1 Chinese Grand Prix set for new race deal until 2025

    It is also notorious as the track on which Ayrton Senna and Roland Ratzenberger were killed on consecutive days in 1994. But F1 officials have accepted that it will be impossible to hold the races.
    The lovely  way Harry and Meghan honoured Princess Diana’s death

    The lovely way Harry and Meghan honoured Princess Diana’s death

    Harry was 12 and his brother William 15 when their mother was killed in a auto crash in Paris on August 31, 1997. Duchess Meghan and Prince Harry made another surprise appearance in Los Angeles on August 31.
  • Protester Suspected in Portland Shooting Killed by Officers During Arrest, Reports Suggest

    Protester Suspected in Portland Shooting Killed by Officers During Arrest, Reports Suggest

    Trump tweeted about Danielson being shot on Thursday night, asking why he hadn't been arrested. "Do your job, and do it fast.". President Trump called for the arrest of Reinoehl the same day that he was shot, asking why nothing had been done yet.
    The Galaxy A42 is Samsung's Cheapest 5G Smartphone Yet

    The Galaxy A42 is Samsung's Cheapest 5G Smartphone Yet

    With Samsung yet to announce the specifics about the Trio , we don't know whether it comes with coils in profusion on the inside. The company's new additions to the Galaxy product line include the Galaxy A42 5G , Galaxy Fit 2 and Galaxy Tab A7.
    PUBG among 118 Chinese apps banned

    PUBG among 118 Chinese apps banned

    Over 275 Chinese apps had been under scrutiny for alleged violation of national security and citizens' privacy. The game ranks among top five smartphone games in the world with over 734 million downloads.