Last week’s unemployment claims added up to 881,00 about 100,000 less from what was predicted by the analysts, mainly due to the seasonal adjustment process by the labor department. The labor department reported the lowest unemployment rates since the start of the pandemic. The article talks about how government, retail, health, and education sectors have increased hiring that enables the labor market to gradually recover from the pandemic crisis. The statistic shows that the number of people on temporary layoff decreased from 18.1 million in April to 6.2 million in August, which indicates that people are going back to work.
Although the figures are way better compared to the situation we had 5 months ago, but still we are far away from the normal, at this pace it will take a while to recover all the jobs lost due to the pandemic.
https://www.cnbc.com/2020/09/03/weekly-jobless-claims.html
https://www.cnbc.com/2020/09/04/jobs-report-august-2020-.html
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