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NFIB Weekly News

NFIB Weekly News Wages and Benefits

New Unemployment Claims Fell To 779K Last Week (02/09/2021)

The AP (2/4, Rugaber) reported new claims for unemployment benefits “declined to 779,000 last week, a still-historically high total that shows that a sizable number of people keep losing jobs to the viral pandemic.” While the total “declined from 812,000 the previous week,” the AP said the number “reflects a U.S. job market that is still suffering from the pandemic, with hiring having weakened for six straight months.” The New York Times (2/4, Phillips) said economists contend “the latest data strengthens the argument for more stimulus.”
Bloomberg (2/4, Rockeman) said claims “fell last week to the lowest level since the end of November, a sign that job cuts are starting to slow as Covid-19 infections ebb.” According to Bloomberg while the number is and indication “that layoffs related to the pandemic are starting to ebb after jobless claims picked up in December and early January. In the coming months, as more Americans get inoculated and virus cases fall, economic activity is poised to resume and job cuts may decline further.”

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