California and Ohio see largest drops in unemployment claims.
Last week, the number of Americans seeking new unemployment benefits dropped to the lowest point it has been in three months. The Labor Department reported that jobless claims decreased by 111,000 from the prior week, resulting in a seasonally adjusted 730,000 people per week submitting new claims. A total of about 19 million people are still out of work.
Before the start of the pandemic, weekly unemployment claims had not risen above 700,000. The main influences on the decrease in new claims were concentrated in Ohio and California where claims fell by a combined 96,000. Nationally, new hiring has mostly plateaued over the last few months with an average of 29,000 new positions offered each month.
As the Lord Leads, Pray with Us…
- That the Labor Department would be guided by the Lord to support the national job market.
- For God to help those who are still unemployed.
- That God would work His purpose through the president’s administration as they address the economic ramifications of the pandemic.
Sources: AP, The Hill
