Connect with us

Plato Vertical Search

HRTech

Claims for unemployment benefits drop drastically in the US

Claims for unemployment benefits drop drastically in the US

Never has the US witnessed such a dip in the number of applications for unemployment benefits since 1969.

However, experts attribute this to seasonal factor distortion, which they anticipate will be reversed in a week’s time.

As per the Labour Department, the number of workers filing for initial unemployment benefits fell by 71,000 in the week ended 20 November, 2021, compared to the week before that. In 2019, jobless claims were at an average of 2,18,000 per week.

The labour market does seem to be recovering, now that more job openings have come up and demand for labour has surged. Over five lakh jobs were added in October and the unemployment rate dropped from 4.8 per cent to 4.6 per cent.

Yet, millions are opting to stay home and wait for even better times, while employers are battling labour shortage. For working parents, child care is a challenge because COVID cases are on the rise in many areas, and therefore, children are being forced to opt for online classes and avoid attending school physically.

Employers in the retail, leisure, hospitality and logistics space have had to raise wages significantly to attract workers. Job postings on job sites have also gone up compared to February 2020, just before the pandemic.

Many workers have managed to use the work-from-home situation to their advantage and upskill themselves. This has helped them bag better jobs or even switch sectors. Combined with the significantly high salaries being offered to attract workers, it surely is an emloyees’ market at the moment.

Claims for unemployment benefits drop drastically in the US

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.hrkatha.com/news/global-hr-news/claims-for-unemployment-benefits-drop-drastically-in-the-us/

Related Streams

Cannabis

With so many great cannabis brands releasing exciting new products in new markets, it can be hard to keep track of every release or...

Cannabis

Dr. Dabber is known for its high-quality, sleek, and functional electronic dab rigs. The Stella is its newest dab pen, improving upon the original...

Cannabis

You know that stoner aesthetics are having a moment when Architectural Digest includes “cannabis" among its predictions for the biggest interior design trends for...

Cannabis

Dr. Dabber is a Las Vegas-based company that produces electronic dab rigs and accessories. In fact, according to its website, Dr. Dabber is the...