Biden economy soaring, initial filings dipped to a new pandemic era low last week

[reagansghost]

Initial unemployment claims dropped more than expected to a fresh pandemic-era low, with new filings inching back toward pre-pandemic levels as more vaccinated Americans return to work and in-person activities.

The Department of Labor released its weekly report on new jobless claims Thursday at 8:30 a.m. ET. Here were the main metrics expected from the report, compared to consensus data compiled by Bloomberg:

-- Initial jobless claims, week ended May 8: 473,000 vs. 490,000 expected and 498,000 during prior week

-- Continuing claims, week ended May 1: 3.655 million vs. 3.650 million expected and 3.690 million during prior week

Weekly jobless claims have nearly halved since the start of 2021, and have fallen precipitously from their pandemic-era high of more than 6 million last year. The last several months' worth of marked improvements coincided with a fast-ramping vaccination program in the U.S., and widespread easing of social distancing restrictions across many states. Prior to the pandemic, new jobless claims averaged just over 200,000 per week throughout 2019.

https://finance.yahoo.com/news/weekl...174616833.html

[Cypress]

Restaurants and the service industry around here are desperate for employees. I am seeing restaurants here offer $200 signing bonuses. I do not think I have ever seen that before.

[anatta]

Restaurants and the service industry around here are desperate for employees. I am seeing restaurants here offer $200 signing bonuses. I do not think I have ever seen that before.

$500 to join WAWA here

[Cypress]

$500 to join WAWA here

Wow.

[Phantasmal]

Restaurants and the service industry around here are desperate for employees. I am seeing restaurants here offer $200 signing bonuses. I do not think I have ever seen that before.

McDonald’s is increasing its pay nationwide. This is a good thing.

[Cypress]

McDonald’s is increasing its pay nationwide. This is a good thing.

I read an article that this COVID pandemic made restaurant workers reflect more on how badly they have paid and treated by their employers --- and that consequently it is going to take more to coax them back to work in that industry.

[Joe Capitalist]

Initial unemployment claims dropped more than expected to a fresh pandemic-era low, with new filings inching back toward pre-pandemic levels as more vaccinated Americans return to work and in-person activities.

The Department of Labor released its weekly report on new jobless claims Thursday at 8:30 a.m. ET. Here were the main metrics expected from the report, compared to consensus data compiled by Bloomberg:

-- Initial jobless claims, week ended May 8: 473,000 vs. 490,000 expected and 498,000 during prior week

-- Continuing claims, week ended May 1: 3.655 million vs. 3.650 million expected and 3.690 million during prior week

Weekly jobless claims have nearly halved since the start of 2021, and have fallen precipitously from their pandemic-era high of more than 6 million last year. The last several months' worth of marked improvements coincided with a fast-ramping vaccination program in the U.S., and widespread easing of social distancing restrictions across many states. Prior to the pandemic, new jobless claims averaged just over 200,000 per week throughout 2019.

https://finance.yahoo.com/news/weekl...174616833.html

God Bless President Biden. I'm so glad America chose Joe Biden over Fat Donald.