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Tuesday, March 2, 2021

Unemployment Benefits Claims Spike As Wrong Steps Creates A Crisis

The crisis of jobs in the United States of America has been increasing exponentially once again. The country has stepped up its measures of virus prevention in order to combat the rising rates of infection. Additionally, the unemployment benefit claimants have also been rising at a great speed, unfortunately.

965,000 more US citizens have now filed for unemployment benefits for the first time ever. This indicates the immense spike in unemployment in the country.

Unemployment Benefits Awaited by Thousands

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For the first time, the new unemployment benefit claimants on the basis of seasonal adjustment in the US during the previous week witnessed 965,000 more applicants. This was reported by the Department of Labor on 14th January, Thursday.

This number was considerably more than the preceding week that saw a 784,000 number Americans filing to receive unemployment benefits. The number is much worse than what was expected by economists recently.

The jobless claimants on a weekly basis are now stuck at a painfully high level at present. Towards the end of the month of August, the number of jobless people had declined under 1 billion for a brief span of time.

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However, after that, this exponentially bad situation has failed to come under control and there has been no improvement in the numbers. The seasonal adjustments were lacking and the very first claims are not returning back to the number of more than 1 million. This is a very scary number as well as it indicates to be above 3 times more as compared to the number last year in this very same period.

Biden intends to create numerous jobs and bring down the unemployment benefit claimants significantly.

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