{"id":600048,"date":"2021-07-22T12:21:23","date_gmt":"2021-07-22T16:21:23","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=600048"},"modified":"2021-07-22T12:21:25","modified_gmt":"2021-07-22T16:21:25","slug":"weekly-unemployment-figures-see-another-surprise-uptick","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/weekly-unemployment-figures-see-another-surprise-uptick\/","title":{"rendered":"Weekly Unemployment Figures See Another Surprise Uptick"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">14<\/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%2Fweekly-unemployment-figures-see-another-surprise-uptick%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=600048&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\/07\/GettyImages-1234015046-scaled-1.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p><span>New jobless claims saw another unexpected spike last week.<\/span><\/p>\n<p><span>The most recent Department of Labor <\/span><a href=\"https:\/\/www.dol.gov\/ui\/data.pdf\"><span>data<\/span><\/a><span> revealed 419,000 claims for the week ending on July 17 \u2014 an increase in 51,000 from the previous week\u2019s levels that again exceeds economists\u2019 predictions.<\/span><\/p>\n<p><a href=\"https:\/\/www.wsj.com\/articles\/weekly-jobless-claims-07-22-2021-11626901031?mod=hp_lead_pos1\"><span>The Wall Street Journal<\/span><\/a><span> explained:&nbsp;<\/span><\/p>\n<blockquote readability=\"18\">\n<p><i><span>The number of Americans receiving jobless payments fell this month to the lowest level since early in the coronavirus pandemic, but first-time applications rose as supply constraints persist in the auto industry.<\/span><\/i><\/p>\n<p><i><span>Continuing payments made through all unemployment benefit programs fell by 1.3 million in the week ended July 3, to 12.6 million, the Labor Department said Thursday. That was the lowest level since late March 2020, when new programs responding to the pandemic first came online.<\/span><\/i><\/p>\n<p><i><span>In recent weeks about half of states have acted to end enhanced and extended unemployment benefits. The end of pandemic programs in Texas drove the latest decrease.<\/span><\/i><\/p>\n<\/blockquote>\n<p><span>\u201cThe expectation is that this will spur more job-seeking among unemployed Texans as demand for labor improves,\u201d PNC Financial Services chief economist Gus Faucher told The Wall Street Journal. \u201cMany employers have said that they would like to hire, but that the supply of workers has not kept up.\u201d<\/span><\/p>\n<p><span>Unemployment data released over the past several months by the Department of Labor has revealed an uneven job market recovery. Despite the American economy\u2019s rebound from COVID-19 and the lockdown-induced recession, workers have been slow to return to their positions.&nbsp;<\/span><\/p>\n<p><span>The Daily Wire reported, for instance, that the week ending on July 3 <\/span><a href=\"https:\/\/www.dailywire.com\/news\/new-unemployment-claims-see-another-uptick-as-labor-market-struggles-to-rebound\"><span>saw<\/span><\/a><span> 373,000 first-time jobless claims \u2014 a figure that outpaced the 350,000 claims forecasted by economists surveyed by Dow Jones. The week ending on June 12 <\/span><a href=\"https:\/\/www.dailywire.com\/news\/jobless-claims-increase-again-pausing-downward-trend-with-biggest-jump-since-march\"><span>saw<\/span><\/a><span> 412,000 claims, representing an increase of 37,000 from the previous week\u2019s levels.<\/span><\/p>\n<p><span>Many experts \u2014 including economists at the Federal Reserve \u2014 point to enhanced federal unemployment benefits as a factor distorting the labor market.<\/span><\/p>\n<p><span>As the Fed\u2019s most recent semiannual <\/span><a href=\"https:\/\/www.dailywire.com\/news\/fed-report-to-congress-says-enhanced-federal-unemployment-handouts-are-restricting-growth\"><span>report<\/span><\/a><span> to Congress explains:<\/span><\/p>\n<blockquote readability=\"17\">\n<p><i><span>With economic activity rebounding, labor demand rose briskly in the spring, while the supply of labor struggled to keep up. Employers reported widespread hiring difficulties, job openings jumped to about 30 percent above the average level for 2019, and the ratio of job openings to job seekers surged\u2026 enhanced unemployment benefits have allowed potential workers to be more selective and reduce the intensity of their job search.<\/span><\/i><\/p>\n<p><i><span>The support from enhanced UI has been especially consequential for lower-wage workers, who have borne the brunt of recent job losses and who have benefited most from broader coverage and higher benefit levels.<\/span><\/i><\/p>\n<\/blockquote>\n<p><span>Though the central bank explicitly named the federal unemployment insurance as a cause of the labor shortages, it stopped short of urging policymakers to rescind the policy before its automatic expiration in September.<\/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 saw another unexpected spike last week.The most recent Department of Labor data revealed 419,000 claims for the week ending on July 17 \u2014 an increase in 51,000 &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-600048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/600048","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=600048"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/600048\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=600048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=600048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=600048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}