USA | Unemployment demands exceed 700,000

(Washington) The number of unemployment claims in the United States last week exceeded 700,000, according to data released Thursday by the Department of Labor.

France Media Agency

Between March 21 and 27, 719,000 requests were recorded, an increase of 61,000 compared to the previous week, with their number revised downwards (658,000). This is higher than the 679,000 records that researchers expect.

For more than four weeks, the decline continued, however, with an average of 719,000 requests (-10,500).

These levels are higher than pre-epidemic levels, but economists expect the job market to improve significantly once the economy fully reopens, which is possible in the second quarter.

“It simply came to our notice then […], But it should be noted that the figures for the previous week have fallen sharply, “said Ian Shepherdson, chief economist at Pantheon Macroeconomics.

“For more than two weeks, there has been a clear downward trend,” he said.

“The economy will reopen in the second quarter, and then it will be easier for companies in financial trouble to retain their employees,” the economist expects.

“We wonder if the weekly demand will not drop sooner than the 655,000 registered after the 2008 crisis,” he commented.

The Department of Labor will release its March employment report on Friday.

Analysts expect the biggest gains in employment this month since August 2020, with some economists still expecting a million jobs and a drop in the unemployment rate.

On Wednesday, the number of jobs in the private sector in the United States diverted with a sharp increase in March, thanks to the recovery of the service sector most affected by the health crisis, according to the monthly survey released by the business service company ATP on Wednesday.

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Private companies have created 517,000 jobs in the United States, less than the 525,000 estimated by analysts, but more than the 176,000 (revised) recorded in February, which is the worst in the country. This is the largest increase since September 2020.

President Joe Biden wants to create millions of “well-paid” jobs and promising sectors during his tenure. To do this, he wants to launch huge investments in more than $ 2 trillion in infrastructure with the desire to tackle environmental issues.

Harrison Matthews

 "Evil musicaholic. Web fanatic. Communicator. Twitter practitioner. Travel lover. Food advocate."

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