Don’t get excited ….
These numbers will be readjusted for the Thanksgiving Holidays …
If you are out and about?
You’ll still see a lot of help wanted signs in the windows of stores big and small….
Things still ain’t right….
Overall, just under 2 million Americans were collecting traditional unemployment benefits the week that ended Nov. 27.
Weekly claims, which are a proxy for layoffs, have fallen steadily most of the year since topping 900,000 one week in early January. They are now below to the 220,000-a-week level typical before the coronavirus pandemic slammed the U.S. economy in March 2020; Covid-19 forced consumers to stay home as health precaution and businesses to close or reduce hours and to lay off staff. In March and April last year, employers shed a staggering 22.4 million jobs.
Massive government aid and the rollout of vaccines helped revive the economy and the job market by giving Americans the confidence and financial wherewithal to go on a shopping spree, often online, for goods such as lawn furniture and coffee makers. Since April last year, the United States has regained nearly 18.5 million jobs. But the economy is still 3.9 million jobs short of where it stood in February 2020 and the prospects for the economy remain vulnerable to Covid variants such as omicron.
The Labor Department reported last week that employers added a disappointing 210,000 jobs last month. But the report also showed that the unemployment rate dropped to a pandemic low of 4.2 percent from 4.6 percent in October….