Unemployment Claims , Hit Pandemic Low.
ABC News reports the amount of Americans applying for unemployment benefits dwindled to an all-pandemic low last week.
Jobless claims fell by 14,000, leaving the total tally of Americans who had applied for benefits hovering around 269,000.
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Economists continue to say the labor market is on the rebound.
[Unemployment] claims are headed in the right direction, showing the labor market recovery continues, albeit slowly.
, Economists With Contingent Macro Research, via ABC News.
In March and April 2020, amid the onset of the COVID-19 pandemic, employers eliminated more than 22 million jobs.
2.1 million Americans were collecting unemployment insurance as of Oct 23.
Economists say that consumers have resumed their pre-pandemic spending habits.
Consumer demand is now putting a strain on the labor forces of many large corporations.
Consumer demand is now putting a strain on the labor forces of many large corporations.
Companies complain they are having trouble finding more employees.
10.4 million new jobs were posted in August.
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It is estimated that 400,000 new workers were added in October.
Some corporations have now resorted to raising wages and offering signing bonuses to fill these positions
