Outdoor Hospitality News

For owners, operators, team members, and anyone else interested in camping, glamping, or the RV industry.

US Unemployment Claims Increase but Remain Historically Low

Share this article

The number of people seeking unemployment benefits increased last week. Still, it remained historically low, indicating a strong U.S. labor market with a nearly record-high number of job openings and a few layoffs.

As per a report, the number of jobless claims jumped from 18,000 to 185,000, the Labor Department said Thursday, after almost reaching the lowest levels since 1968 in the prior week.

The four-week average of claims, which level out week-to-week ups and downs, edged from 170,000 to 172,000.

“Claims are still at very low levels, underscoring historically tight labor market conditions,” said Nancy Vanden Houten, lead U.S. economist at Oxford Economics.

“We expect initial claims to remain below (200,000) in the weeks ahead, as employers, who continue to struggle to attract and retain workers, will keep layoffs to a minimum.”

Two years after the pandemic caused the economy to enter a brief but devastating recession, American workers enjoy job security. The number of weekly applications for unemployment assistance has been consistently below the pre-pandemic rate of 225,000.

Last year, employers created a record-breaking 6.7 million jobs and added 560,000 jobs more each month so far in 2022.

The rate of unemployment that jumped to 14.7% in April 2020 in the depths of the COVID-19 recession is now just 3.6%, barely above the lowest point in 50 years. And there is a record proportion of 1.7 job openings for every unemployed American.

The resilience of the U.S. job market and economy, in general, is striking in the face of a destructive pandemic, the economic consequences of Russia’s war against Ukraine, and the highest consumer inflation in 40 years.

Fewer than 1.48 million Americans were collecting traditional unemployment aid in the week of April 2.

This story originally appeared on Associated Press.

Share this article

Modern Campground

Modern Campground

Modern Campground is the most innovative news source in the Outdoor Hospitality industry. We provide global news coverage for RV Park and Campground owners, operators, managers, and their team members.
Long Winter Prompts Cancellation of Diamond Lake, Broken Arrow Campground Reservations
RVWA Partners with RVTI to Sponsor an All-Female Tech Training Class
Northern Ontario Campgrounds Anticipate Busy Summer
Montana RV Parks Gear Up for Another Busy Year
RVIA Supports National Park Foundation Reauthorization Act Of 2022

© Modern Campground LLC. All Rights Reserved. Website Designed By Insider Perks

Stay Updated
Outdoor Hospitality News

Send this to a friend
Hi, you might find this article from Modern Campground interesting: US Unemployment Claims Increase but Remain Historically Low! This is the link: https://moderncampground.com/usa/us-unemployment-claims-increase-but-remain-historically-low/