The total number of people receiving unemployment benefits is at its highest levels in more than three decades.
Applications for jobless gains rose by 6,000 to 223,000 for the week ending Jan. 18, substantially more than economists expected. The number of people who received employment advantages for the week of Jan. 11 climbed by 46,000 to 1. 9 million, the most since November 2021.
Poverty and homeless statements are still far from their all-time deep in April 2020 during the COVID-19 crisis. At that time, 23. 1 million people received employment benefits, and the unemployment rate stood at 14. 7 %.
Rising continuing statements, the number of individuals collecting homeless benefits, suggests that some who receive employment benefits may find it harder to get new jobs. This means demand for workers is on a decline.
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However, the market remains solid. Earlier this month, the Labor Department reported that employment growth in December increased, with 256,000 employment added that month. The poverty rate likewise fell to 4. 1 %.
These numbers suggest the market is entering a post-COVID-19 period of constant progress, higher interest rates, low unemployment, and significantly increased prices.
