{"id":566655,"date":"2021-06-17T10:52:03","date_gmt":"2021-06-17T14:52:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=566655"},"modified":"2021-06-17T10:52:07","modified_gmt":"2021-06-17T14:52:07","slug":"jobless-claims-increase-again-pausing-downward-trend-with-biggest-jump-since-march","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/jobless-claims-increase-again-pausing-downward-trend-with-biggest-jump-since-march\/","title":{"rendered":"Jobless Claims Increase Again, Pausing Downward Trend With Biggest Jump Since March"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fjobless-claims-increase-again-pausing-downward-trend-with-biggest-jump-since-march%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=566655&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1321572864.jpg?w=1200&#038;h=800&#038;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\"  style=\"display:none\"><\/div>\n<p><span>New jobless claims last week greatly exceeded economists\u2019 expectations, despite reports of a recovering economy.<\/span><\/p>\n<p><span>The Department of Labor\u2019s report for weekly unemployment claims reveals that \u201cin the week ending June 12, the advance figure for seasonally adjusted initial claims was 412,000, an increase of 37,000 from the previous week\u2019s revised level.\u201d<\/span><\/p>\n<p><span>In contrast, economists polled by Dow Jones <\/span><a href=\"https:\/\/www.cnbc.com\/2021\/06\/17\/us-weekly-jobless-claims.html\"><span>expected<\/span><\/a><span> 360,000 new claims; the unemployment data, therefore, exceeded forecasts by nearly 15%.<\/span><\/p>\n<p><span>The vast majority of the increase came from California and Pennsylvania, which saw 15,712 and 21,50 new claims, respectively.<\/span><\/p>\n<p><span>Federal Reserve Chair Jerome Powell discussed the sluggish job market recovery in a press conference on Wednesday.<\/span><\/p>\n<p><span>\u201cFactors related to the pandemic, such as caregiving needs, ongoing fears of the virus, and unemployment insurance payments appear to be weighing on employment growth,\u201d Powell said, according to CNBC. \u201cThese factors should wane in coming months against a backdrop of rising vaccinations leading to more rapid gains in employment.\u201d<\/span><\/p>\n<p><span>Despite America\u2019s return to economic expansion, joblessness has remained high. For instance, the April jobs report saw an <\/span><a href=\"https:\/\/www.dailywire.com\/news\/breaking-unemployment-rate-increases-numbers-way-worse-than-expected-talk-of-inflation-grows\"><span>increase<\/span><\/a><span> in unemployment from 5.8% to 6.1%.<\/span><\/p>\n<p><span>Along with Powell, many Republican policymakers have <\/span><a href=\"https:\/\/www.dailywire.com\/news\/lindsey-graham-challenges-unemployment-benefits-uses-own-family-to-explain-why\"><span>pointed<\/span><\/a><span> to generous federal unemployment benefits as a factor discouraging Americans from filling positions. In a hearing, Sen. Lindsay Graham (R-SC) asked Office of Management and Budget Acting Director Shalanda Young: \u201cThere\u2019s a lot of jobs out there that are unfilled and will never be filled until you change the benefit structure. Does that logic make sense to you, given where we\u2019re at in our economy?\u201d<\/span><\/p>\n<p><span>\u201cI understand the logic, but I\u2019ve also not met Americans who would prefer not to work,\u201d Young replied. \u201cThere\u2019s a dignity to work in this country.\u201d<\/span><\/p>\n<p><span>Republican-led states are opting out of enhanced unemployment benefits to help companies fill open positions. As Gov. Tate Reeves (R-MS) <\/span><a href=\"https:\/\/www.dailywire.com\/news\/these-21-states-are-opting-out-of-enhanced-unemployment-benefits-heres-what-you-need-to-know\"><span>explained<\/span><\/a><span>, \u201cafter many conversations over the last several weeks with Mississippi small business owners and their employees, it has become clear that the Pandemic Unemployment Assistance (PUA) and other like programs passed by the Congress may have been necessary in May of last year but are no longer so in May of this year.\u201d<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New jobless claims last week greatly exceeded economists\u2019 expectations, despite reports of a recovering economy.The Department of Labor\u2019s report for weekly unemployment claims reveals that \u201cin the week ending June &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2280564,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1321572864.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"Jobless Claims Increase Again, Pausing Downward Trend With Biggest Jump Since March","footnotes":""},"categories":[],"tags":[],"class_list":["post-566655","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1321572864.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"Jobless Claims Increase Again, Pausing Downward Trend With Biggest Jump Since March","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/566655","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=566655"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/566655\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2280564"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=566655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=566655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=566655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}