According to the US Department of Labor, 778,000 Americans applied for unemployment benefits in the week ended November 21, which is 748,000 more than the previous week.
The continued growth in the number of such filings indicates a slowdown in the recovery of the American labor market amid increasing cases of COVID-19. According to experts, the expected decline in the number of applications for unemployment benefits to 730 thousand.
Since Thanksgiving is celebrated on Thursday in the United States, this ministry report came out a day earlier. Over the past 4 weeks, the number of applications increased by 5 thousand compared to the previous week вЂ” up to 748 500.
Thanks to more than $3 trillion in aid from the U.S. government to support businesses and the public during the coronavirus containment restrictions, jobless claims have dropped from a peak of 6.867 million in March, when many were shut down in the country. Enterprises, which led to the massive layoff of their employees.
Re-hiring of about 80% of these workers contributed to the recovery of most of the jobs in 6 months.