The Labor Department has reported that the number of Americans applying for unemployment benefits fell last week by 14,000 to 385,000
08/05/2021 09:33 AM EDTThe number of Americans applying for unemployment benefits fell last week by 14,000 to 385,000, more evidence that the economy and the job market are rebounding briskly from the coronavirus recession.
Since cratering in the spring of 2020, the U.S. economy has bounded back as the rollout of vaccines encourages businesses to reopen or return to normal operating hours and consumers to return to shops, restaurants and bars. The United States has been adding more than 540,000 jobs a month this year, and the Labor Department's July jobs report out Friday is expected to show it tacked on nearly 863,000 more last month, according to a survey of economists by the data firm FactSet.
Altogether, 13 million Americans were receiving some type of unemployment aid the week of July 17, down from 13.2 million the previous week and 32 million a year earlier.
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