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Tipsheet

GOP Lawmakers Blast Biden After Weekly Jobless Claims Released

AP Photo/Andrew Harnik

The number of Americans filing for unemployment benefits for the first time last week rose to the highest level in a month, the Department of Labor said Thursday.

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The week ending Sept. 18 saw 351,000 jobless claims, the highest level since the week of Aug. 21, surpassing expectations. The number was 16,000 higher than the previous week’s revised level of 335,000.

The Dow Jones predicted the level would drop to 320,000 claims.

“Hoped for progress on new claims for jobless benefits was not to be in the latest snapshot, posting a second straight weekly increase,” said Mark Hamrick, senior economic analyst at Bankrate, reports the New York Post. “Part of the explanation behind the increase is seen with significant jumps coming from California and Virginia, providing a total of 37,000 new claims. At the same time, hurricane-battered Louisiana posted a decline.”

Weekly new claims have fallen substantially from the 2020 peak of about 6.1 million new claims in a single week, but remain above pre-pandemic levels.

After a summer that saw new jobless claims settle at nearly double pre-pandemic levels, new jobless claims appear to be steadily falling — despite the setback presented by the last two weeks of data.

The country was averaging just over 200,000 new claims per week in 2019.

“The economy still has some heavy lifting to do under the presumption that further progress will be made in the coming months while putting the pandemic behind,” Hamrick said. (NY Post)

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GOP lawmakers seized on the news to criticize President Biden.

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