The election is yet to be decided, but for one thing is certain: the next President will have to deal with America’s massive unemployment problem.
Another 751,000 Americans claimed first-time jobless benefits last week on a seasonally adjusted basis, the Labor Department reported Thursday. That’s down slightly from the prior week.
On top of that, 362,883 workers not eligible for regular state benefits, such as the self-employed or gig workers, claimed aid under the Pandemic Unemployment Assistance program.
Added up, first-time claims stood at 1.1 million last week without seasonal adjustments.
Continued jobless claims, which count workers who have applied for benefits for at least two weeks in a row, stood at 7.3 million, down a bit from the prior week.
This is a developing story. It will be updated.