- June 10, 2021
- Posted by: Stratford Team
- Category: Business
JP Morgan Funds chief global strategist David Kelly shares insight on market movement amid federal reserve forecasting.
The number of Americans filing for first-time jobless claims has fallen for its sixth straight week to a new pandemic low, according to the Labor Department.
LABOR SECRETARY DOUBLES DOWN ON FEDERAL UNEMPLOYMENT BENEFITS AS LABOR SHORTAGE RAGES
The data shows that 376,000 people filed for first-time benefits for the week ending June 5, a decrease of 9,000 compared to the 385,000 people who filed the week prior. This marks the lowest level since March 14, 2020, when initial jobless claims were 256,000. Before the pandemic brought economic activity to a near-standstill in March 2020, weekly applications were regularly coming in below 220,000.
Meanwhile, 3.499 million Americans were receiving traditional state unemployment benefits the week of May 29, a decrease of 258,000 from 3.771 million the week before. This marks the lowest level…