Jobless Claims Rise to 744,000 as Economic Recovery Continues to Slow Under Biden Administration

In the latest edition of why Joe Biden’s presidency sucks, we have horrific job numbers yet again, with the number of unemployed on the rise yet again.

The number of Americans filing new unemployment claims increased to 744,000 last week as the economy continues to slowly recover from the coronavirus pandemic, according to the Department of Labor.

The Bureau of Labor and Statistics figure released Thursday represented an increase in the number of new jobless claims compared to the week ending March 27, when 728,000 new jobless claims were reported. That number was revised up from the 719,000 jobless claims initially reported last week.

Roughly 18.2 million Americans continue to collect unemployment benefits, according to the report.

Economists expected Thursday’s jobless claims number to come in around 694,000, The Wall Street Journal reported. New jobless claims fell below 1 million in the first week of August, which was the first time the weekly claims had fallen below 1 million since March 2020.

“The movement overall is in the right direction,” Mark Hamrick, senior economic analyst at Bankrate.com, told the WSJ. “As we get closer to herd immunity, as restrictions can be lifted — think about dining rooms that can go from 50% to 100% capacity and baseball stadiums that can be 100% instead of 10% — those are things that get us closer to where we were before.”

The U.S. economy added a whopping 916,000 jobs in March, a positive sign that the economy is recovering, according to Department of Labor data released last week. The U.S. added 379,000 jobs in February and a modest 49,000 jobs in January.

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