Economist experts have recently estimated that unemployment numbers were around 830,000 last week. The Department of Labor is set to release its official report on it soon.
Unemployment levels are still high, but they’ve experienced a slight dip in recent weeks. Although 830,000 is still extremely high, it’s much lower than it has been as of late.
The week before last amounted to 847,000 people filing for unemployment, but this too is considerably better than the state things were in even two weeks prior.
In the weeks ending on January 9th and January 2nd, it was estimated that jobless citizens were at a staggering amount of 4.7 million and 4.771 million, respectively.
As chief U.S. economist Rubeela Farooqi stated in a note on Wednesday: “The data continues to signal weakness in the labor market, although a lack of sustained increases in recent weeks is a surprising and positive sign. As states continue to relax restrictions, claims should stabilize at lower levels.”
To gain a little bit of perspective on the situation, the unemployment level peaked in May 2020, when the numbers amounted to nearly 25 million. This was when the pandemic quarantine was in full effect. If there’s a silver lining in any of this, it’s that the numbers are far from where they were back then.
